Stephens Inc. AR Purchases 5,018 Shares of AppLovin Corporation $APP

Stephens Inc. AR boosted its holdings in AppLovin Corporation (NASDAQ:APP) by 58.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,604 shares of the company’s stock after acquiring an additional 5,018 shares during the quarter. Stephens Inc. AR’s holdings in AppLovin were worth $9,775,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its stake in AppLovin by 31.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company’s stock worth $1,627,000 after purchasing an additional 1,114 shares during the period. Lazard Freres Gestion S.A.S. purchased a new position in shares of AppLovin in the third quarter worth $2,514,000. Aberdeen Group plc boosted its position in shares of AppLovin by 6.5% during the second quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock worth $39,972,000 after acquiring an additional 7,001 shares during the last quarter. Legal Advantage Investments Inc. bought a new position in shares of AppLovin during the second quarter worth $1,523,000. Finally, IFM Investors Pty Ltd grew its stake in AppLovin by 15.6% during the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after acquiring an additional 6,104 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the sale, the chief technology officer directly owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 150,000 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total value of $97,636,500.00. Following the completion of the transaction, the director directly owned 7,133,292 shares in the company, valued at $4,643,131,095.72. This trade represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 340,336 shares of company stock valued at $200,062,623. 13.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on APP shares. Morgan Stanley boosted their price target on shares of AppLovin from $750.00 to $800.00 and gave the stock an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $705.00 target price on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group raised their price target on AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Wells Fargo & Company lifted their price objective on AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Finally, Zacks Research upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $706.76.

AppLovin Stock Down 7.6%

Shares of APP opened at $617.76 on Thursday. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The business has a fifty day moving average of $640.74 and a 200 day moving average of $550.38. The company has a market cap of $208.77 billion, a PE ratio of 74.97, a P/E/G ratio of 2.21 and a beta of 2.50. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.29 earnings per share. On average, sell-side analysts expect that AppLovin Corporation will post 6.87 EPS 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.