Patriot Financial Group Insurance Agency LLC Buys 1,808 Shares of AppLovin Corporation $APP

Patriot Financial Group Insurance Agency LLC boosted its position in shares of AppLovin Corporation (NASDAQ:APP) by 123.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,268 shares of the company’s stock after acquiring an additional 1,808 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in AppLovin were worth $1,301,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin during the 4th quarter worth approximately $27,000. Washington Trust Advisors Inc. raised its stake in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of AppLovin in the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of AppLovin in the fourth quarter valued at $32,000. Finally, CENTRAL TRUST Co lifted its position in AppLovin by 41.3% in the first quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock worth $35,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 4.5%

Shares of NASDAQ APP opened at $498.76 on Tuesday. AppLovin Corporation has a 52-week low of $325.58 and a 52-week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The business has a fifty day moving average of $497.65 and a two-hundred day moving average of $508.03. The stock has a market cap of $167.55 billion, a PE ratio of 42.85, a PEG ratio of 0.77 and a beta of 2.45.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.67 EPS. As a group, equities research analysts expect that AppLovin Corporation will post 15.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on APP shares. Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Benchmark restated a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $668.27.

Insider Activity

In other news, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 22,544 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the transaction, the chief executive officer directly owned 2,327,684 shares in the company, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 389,924 shares of company stock valued at $195,693,875. Corporate insiders own 13.66% of the company’s stock.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.