WD Rutherford LLC Has $2.75 Million Stock Holdings in AppLovin Corporation $APP

WD Rutherford LLC raised its position in shares of AppLovin Corporation (NASDAQ:APP) by 41.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,832 shares of the company’s stock after purchasing an additional 1,123 shares during the period. WD Rutherford LLC’s holdings in AppLovin were worth $2,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of AppLovin by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company’s stock worth $6,267,410,000 after buying an additional 72,120 shares in the last quarter. State Street Corp grew its position in AppLovin by 2.4% in the second quarter. State Street Corp now owns 5,615,415 shares of the company’s stock valued at $1,965,844,000 after acquiring an additional 133,402 shares during the last quarter. Norges Bank bought a new position in AppLovin in the second quarter valued at about $951,541,000. Jennison Associates LLC raised its stake in AppLovin by 4.9% during the second quarter. Jennison Associates LLC now owns 2,504,180 shares of the company’s stock worth $876,663,000 after acquiring an additional 117,200 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of AppLovin by 0.7% in the second quarter. Legal & General Group Plc now owns 1,417,199 shares of the company’s stock worth $496,133,000 after acquiring an additional 9,711 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wedbush lifted their price target on shares of AppLovin from $745.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Wells Fargo & Company restated an “overweight” rating and issued a $735.00 target price on shares of AppLovin in a research report on Thursday. Benchmark upped their price target on shares of AppLovin from $700.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. UBS Group reiterated a “buy” rating and issued a $775.00 price target on shares of AppLovin in a research note on Thursday, December 11th. Finally, Scotiabank boosted their price objective on AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $696.60.

AppLovin Trading Up 2.5%

Shares of APP stock opened at $632.92 on Thursday. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock has a market cap of $213.90 billion, a price-to-earnings ratio of 76.81, a PEG ratio of 2.04 and a beta of 2.50. The stock has a 50-day moving average of $638.87 and a 200-day moving average of $539.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm’s quarterly revenue was up 68.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 earnings per share. On average, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the sale, the chief technology officer directly owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. This trade represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 150,000 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $650.91, for a total value of $97,636,500.00. Following the completion of the transaction, the director directly owned 7,133,292 shares in the company, valued at $4,643,131,095.72. This represents a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 340,336 shares of company stock valued at $200,062,623 over the last quarter. Insiders own 13.66% of the company’s stock.

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.