World Investment Advisors Has $2.82 Million Stock Holdings in AppLovin Corporation $APP

World Investment Advisors boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 26.1% during the first quarter, HoldingsChannel reports. The fund owned 7,095 shares of the company’s stock after purchasing an additional 1,468 shares during the quarter. World Investment Advisors’ holdings in AppLovin were worth $2,824,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of APP. State Street Corp grew its stake in shares of AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares during the last quarter. Corient Private Wealth LLC raised its position in AppLovin by 3,118.6% during the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock worth $2,826,049,000 after purchasing an additional 4,063,763 shares during the last quarter. Norges Bank acquired a new position in AppLovin during the 4th quarter worth about $2,040,321,000. Capital Research Global Investors acquired a new position in AppLovin during the 3rd quarter worth about $743,899,000. Finally, Northern Trust Corp grew its position in shares of AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock valued at $1,706,144,000 after buying an additional 756,660 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $582.04, for a total value of $1,790,355.04. Following the transaction, the director owned 123,520 shares in the company, valued at approximately $71,893,580.80. This represents a 2.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 22,544 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the sale, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. This trade represents a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 389,924 shares of company stock worth $195,693,875 over the last 90 days. 13.66% of the stock is owned by company insiders.

AppLovin Stock Down 2.9%

Shares of AppLovin stock traded down $15.72 during trading on Tuesday, reaching $528.07. 825,065 shares of the company traded hands, compared to its average volume of 5,488,476. The firm has a market capitalization of $177.40 billion, a PE ratio of 45.16, a P/E/G ratio of 0.85 and a beta of 2.49. AppLovin Corporation has a 1-year low of $332.32 and a 1-year high of $745.61. The company has a 50 day moving average price of $503.63 and a 200-day moving average price of $502.64. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. The business’s revenue was up 58.9% compared to the same quarter last year. As a group, equities research analysts expect that AppLovin Corporation will post 15.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Raymond James Financial began coverage on AppLovin in a report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 target price on the stock. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday, June 10th. UBS Group dropped their price target on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Argus initiated coverage on shares of AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $668.45.

AppLovin Company Profile

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.