Pinkerton Wealth LLC Acquires New Stake in AppLovin Corporation $APP

Pinkerton Wealth LLC acquired a new stake in shares of AppLovin Corporation (NASDAQ:APP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,953 shares of the company’s stock, valued at approximately $1,316,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC increased its position in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its position in AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after buying an additional 18 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the last quarter. Claro Advisors LLC boosted its stake in AppLovin by 3.2% during the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after purchasing an additional 20 shares during the last quarter. Finally, Strategic Advocates LLC boosted its stake in AppLovin by 0.8% during the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on APP shares. Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Piper Sandler increased their target price on AppLovin from $650.00 to $665.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wedbush reiterated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Wells Fargo & Company increased their target price on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Scotiabank increased their target price on AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

AppLovin Stock Performance

APP stock opened at $482.28 on Thursday. The company has a market cap of $162.02 billion, a P/E ratio of 41.43, a price-to-earnings-growth ratio of 0.78 and a beta of 2.37. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock’s fifty day moving average price is $445.73 and its 200-day moving average price is $525.32.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. On average, equities analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. This trade represents a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 365,244 shares of company stock worth $169,584,607 in the last ninety days. Insiders own 13.66% of the company’s stock.

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.