AppLovin Corporation $APP Shares Bought by Glynn Capital Management LLC

Glynn Capital Management LLC boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 126,636.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,941 shares of the company’s stock after buying an additional 13,930 shares during the quarter. AppLovin accounts for 3.2% of Glynn Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Glynn Capital Management LLC’s holdings in AppLovin were worth $9,394,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pasadena Private Wealth LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at $438,000. Rothschild Investment LLC raised its holdings in shares of AppLovin by 32.0% in the 4th quarter. Rothschild Investment LLC now owns 268 shares of the company’s stock valued at $181,000 after purchasing an additional 65 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of AppLovin in the 4th quarter valued at $622,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AppLovin by 117.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,177 shares of the company’s stock valued at $17,638,000 after purchasing an additional 14,121 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of AppLovin by 14.8% in the 4th quarter. Moors & Cabot Inc. now owns 341 shares of the company’s stock valued at $230,000 after purchasing an additional 44 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the firm’s 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 transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $30,549,749.72. Following the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 454,964 shares of company stock valued at $213,046,785. Insiders own 13.66% of the company’s stock.

AppLovin Trading Up 5.6%

NASDAQ APP opened at $599.89 on Friday. 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’s fifty day moving average price is $453.17 and its 200 day moving average price is $521.05. The company has a market capitalization of $201.53 billion, a price-to-earnings ratio of 51.54, a price-to-earnings-growth ratio of 0.92 and a beta of 2.37. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating 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 net margin of 64.29% and a return on equity of 219.37%. The company’s revenue was up 58.9% on a year-over-year basis. During the same period last year, the firm posted $1.67 EPS. On average, sell-side analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday. Argus assumed 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. Citigroup reduced their price objective on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Piper Sandler raised their price objective on shares of AppLovin from $650.00 to $665.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and $720 price target, helping push shares sharply higher and reinforcing the view that Wall Street still sees more upside in APP. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Needham & Company reaffirmed a Buy rating and raised its price target to $700, while Deutsche Bank also lifted its target to $660, signaling continued analyst confidence in AppLovin’s growth story. Benzinga report on Needham rating
• Positive Sentiment: The company’s recent earnings results were strong, with revenue up 58.9% year over year and both EPS and revenue beating expectations, supporting the bullish case for the stock. AppLovin stock overview
• Neutral Sentiment: A Zacks comparison piece said Coherent may be better positioned than APP due to valuation concerns, which highlights that AppLovin’s premium pricing remains a debate among investors. Coherent vs. AppLovin: Which AI Growth Stock is Better Positioned?
• Negative Sentiment: Recent SEC filings show CTO Vasily Shikin sold shares, which can create some caution around insider sentiment even though the sales were small relative to his remaining stake. SEC filing for insider sale

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.