WT Asset Management Ltd Has $50.81 Million Holdings in AppLovin Corporation $APP

WT Asset Management Ltd reduced its position in AppLovin Corporation (NASDAQ:APP) by 63.5% during the fourth quarter, HoldingsChannel reports. The firm owned 75,400 shares of the company’s stock after selling 131,400 shares during the period. AppLovin comprises approximately 2.0% of WT Asset Management Ltd’s portfolio, making the stock its 19th largest holding. WT Asset Management Ltd’s holdings in AppLovin were worth $50,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CBIZ Investment Advisory Services LLC boosted its position in shares of 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 purchasing an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after purchasing an additional 18 shares in the last quarter. Versant Capital Management Inc increased its holdings in AppLovin by 2.8% in the third quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after purchasing an additional 19 shares in the last quarter. Claro Advisors LLC lifted its stake in AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after buying an additional 20 shares during the period. Finally, Strategic Advocates LLC boosted its holdings in shares of AppLovin by 0.8% during the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on APP. Jefferies Financial Group lowered their price objective on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. UBS Group set a $740.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Morgan Stanley set a $720.00 price target on shares of AppLovin in a report on Thursday, February 12th. Evercore reiterated a “buy” rating on shares of AppLovin in a report on Friday, January 30th. Finally, Argus began coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $673.25.

AppLovin Stock Performance

NASDAQ APP opened at $448.29 on Friday. AppLovin Corporation has a 1 year low of $246.00 and a 1 year high of $745.61. The firm has a market cap of $151.20 billion, a price-to-earnings ratio of 45.98, a PEG ratio of 0.79 and a beta of 2.50. The company has a fifty day moving average price of $433.47 and a 200-day moving average price of $540.66. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm posted $1.73 EPS. The firm’s quarterly revenue was up 66.0% compared to the same quarter last year. As a group, equities research analysts predict that AppLovin Corporation will post 15.72 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction of $74,331,545.90. Following the completion of the sale, the director directly owned 6,969,382 shares of the company’s stock, valued at $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 through the SEC website. Also, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total value of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares in the company, valued at $14,638,275.26. The trade was a 14.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by company 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.