Northstar Advisory Group LLC Grows Stake in AppLovin Corporation $APP

Northstar Advisory Group LLC lifted its stake in AppLovin Corporation (NASDAQ:APP) by 42.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,515 shares of the company’s stock after purchasing an additional 1,942 shares during the quarter. AppLovin accounts for approximately 1.9% of Northstar Advisory Group LLC’s holdings, making the stock its 16th biggest position. Northstar Advisory Group LLC’s holdings in AppLovin were worth $4,681,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Alta Wealth Advisors LLC purchased a new stake in shares of AppLovin during the third quarter valued at approximately $2,803,000. Bensler LLC purchased a new stake in AppLovin during the 3rd quarter valued at $406,000. Belpointe Asset Management LLC boosted its stake in AppLovin by 15.3% during the 3rd quarter. Belpointe Asset Management LLC now owns 3,475 shares of the company’s stock valued at $2,497,000 after purchasing an additional 461 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of AppLovin in the 3rd quarter worth $29,000. Finally, Alta Advisers Ltd raised its stake in shares of AppLovin by 8.2% in the third quarter. Alta Advisers Ltd now owns 1,320 shares of the company’s stock worth $948,000 after purchasing an additional 100 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the completion of the sale, the chief executive officer directly owned 2,553,161 shares of the company’s stock, valued at $1,328,384,136.69. This represents a 1.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 340,336 shares of company stock valued at $200,062,623 over the last quarter. 13.66% of the stock is currently owned by company insiders.

AppLovin Trading Up 2.1%

Shares of AppLovin stock opened at $535.44 on Tuesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The stock has a market capitalization of $180.95 billion, a PE ratio of 64.98, a P/E/G ratio of 1.73 and a beta of 2.50. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The company’s fifty day simple moving average is $634.72 and its 200-day simple moving average is $563.64.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Oppenheimer set a $740.00 price objective on AppLovin in a report on Tuesday, October 7th. Zacks Research upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Weiss Ratings cut shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 15th. Wedbush raised their target price on shares of AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $706.45.

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.