Global Retirement Partners LLC Boosts Stake in AppLovin Corporation $APP

Global Retirement Partners LLC increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 327.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,609 shares of the company’s stock after buying an additional 6,597 shares during the period. Global Retirement Partners LLC’s holdings in AppLovin were worth $5,801,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APP. Revolve Wealth Partners LLC purchased a new position in AppLovin in the 4th quarter valued at approximately $294,000. Bison Wealth LLC purchased a new position in AppLovin in the 4th quarter valued at approximately $239,000. Integrated Wealth Concepts LLC boosted its position in AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after buying an additional 621 shares during the period. NewEdge Advisors LLC boosted its position in AppLovin by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after buying an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of AppLovin by 7.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after purchasing an additional 9,380 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $485.89 on Friday. The company’s fifty day moving average price is $445.90 and its 200 day moving average price is $524.25. AppLovin Corporation has a 12 month low of $320.00 and a 12 month 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 firm has a market capitalization of $163.23 billion, a P/E ratio of 41.74, a P/E/G ratio of 0.78 and a beta of 2.37.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business earned $1.67 EPS. AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on APP. Argus began coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. The Goldman Sachs Group reduced their price objective on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Finally, BTIG Research restated a “buy” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. One 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 company. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $664.35.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the sale, the chief technology officer directly owned 30,658 shares in the company, valued at $14,638,275.26. This trade represents a 14.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock worth $169,584,607 in the last ninety days. 13.66% of the stock is owned by corporate insiders.

AppLovin 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.