Cozad Asset Management Inc. Lowers Position in AppLovin Corporation $APP

Cozad Asset Management Inc. cut its stake in shares of AppLovin Corporation (NASDAQ:APP) by 7.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 37,270 shares of the company’s stock after selling 2,974 shares during the period. AppLovin accounts for about 1.2% of Cozad Asset Management Inc.’s portfolio, making the stock its 21st biggest position. Cozad Asset Management Inc.’s holdings in AppLovin were worth $14,833,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of APP. Cassaday & Co Wealth Management LLC bought a new position in shares of AppLovin during the first quarter valued at about $25,000. Washington Trust Advisors Inc. grew its position in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in AppLovin in the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC purchased a new stake in AppLovin in the 4th quarter valued at about $32,000. Finally, First Pacific Financial purchased a new stake in AppLovin in the 1st quarter valued at about $33,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 393,000 shares of company stock valued at $197,297,363 in the last quarter. 12.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

APP has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research report on Monday, June 22nd. BTIG Research reiterated a “buy” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Finally, UBS Group cut their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

AppLovin Stock Performance

Shares of APP stock opened at $395.90 on Friday. 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 firm has a market cap of $133.00 billion, a price-to-earnings ratio of 34.01, a P/E/G ratio of 0.65 and a beta of 2.49. AppLovin Corporation has a 52 week low of $359.00 and a 52 week high of $745.61. The firm’s 50-day simple moving average is $491.19 and its two-hundred day simple moving average is $472.27.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the firm earned $1.67 EPS. The company’s revenue was up 58.9% compared to the same quarter last year. As a group, equities analysts forecast that AppLovin Corporation will post 15.93 earnings per share for the current year.

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.