DB&C Advisors LLC Takes $1.68 Million Position in AppLovin Corporation $APP

DB&C Advisors LLC bought a new stake in shares of AppLovin Corporation (NASDAQ:APP) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,487 shares of the company’s stock, valued at approximately $1,676,000. AppLovin accounts for about 2.1% of DB&C Advisors LLC’s portfolio, making the stock its 15th biggest holding.

Several other institutional investors also recently made changes to their positions in APP. Vanguard Group Inc. grew its holdings in shares of AppLovin by 39.4% during the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after purchasing an additional 7,051,663 shares during the last quarter. State Street Corp grew its holdings in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares during the last quarter. Norges Bank bought a new position in shares of AppLovin during the fourth quarter valued at approximately $2,040,321,000. Capital Research Global Investors bought a new position in shares of AppLovin during the third quarter valued at approximately $743,899,000. Finally, Northern Trust Corp grew its holdings in shares of AppLovin by 46.8% during the third quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock valued at $1,706,144,000 after purchasing an additional 756,660 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APP has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Argus began coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price for the company. BTIG Research reiterated a “buy” rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, Scotiabank boosted their price objective on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. One 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. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $557.20 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a 50 day simple moving average of $470.43 and a 200-day simple moving average of $521.43. The company has a market cap of $187.19 billion, a PE ratio of 47.87, a P/E/G ratio of 0.91 and a beta of 2.45. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during 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 business’s revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.67 earnings per share. On average, equities research analysts forecast that AppLovin Corporation will post 15.86 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 467,092 shares of company stock valued at $220,268,340 over the last three months. 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.