WD Rutherford LLC Has $2.75 Million Stake in AppLovin Corporation $APP

WD Rutherford LLC increased its stake in AppLovin Corporation (NASDAQ:APP) by 41.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,832 shares of the company’s stock after acquiring an additional 1,123 shares during the quarter. WD Rutherford LLC’s holdings in AppLovin were worth $2,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hilltop National Bank bought a new stake in AppLovin in the second quarter valued at $26,000. LFA Lugano Financial Advisors SA acquired a new position in shares of AppLovin during the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of AppLovin during the 2nd quarter worth about $33,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of AppLovin in the 3rd quarter valued at about $33,000. Finally, Hoey Investments Inc. acquired a new stake in shares of AppLovin in the 2nd quarter valued at about $35,000. 41.85% of the stock is owned by institutional investors.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 4,069 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $497.50, for a total value of $2,024,327.50. Following the completion of the sale, the chief executive officer owned 2,998,948 shares in the company, valued at approximately $1,491,976,630. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the transaction, the insider owned 277,110 shares in the company, valued at $182,097,294.30. The trade was a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 340,336 shares of company stock valued at $200,062,623. 13.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

APP has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Citigroup lowered their target price on AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppLovin in a report on Monday, December 29th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $735.00 price objective on shares of AppLovin in a research note on Thursday. Finally, Zacks Research upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $696.60.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $632.92 on Thursday. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock’s fifty day simple moving average is $638.87 and its two-hundred day simple moving average is $539.86. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The stock has a market cap of $213.90 billion, a PE ratio of 76.81, a price-to-earnings-growth ratio of 2.04 and a beta of 2.50.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.11. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 EPS. As a group, analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

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.