Kestra Private Wealth Services LLC Has $2.99 Million Stock Holdings in AppLovin Corporation $APP

Kestra Private Wealth Services LLC lowered its position in shares of AppLovin Corporation (NASDAQ:APP) by 16.8% in the first quarter, HoldingsChannel reports. The fund owned 7,511 shares of the company’s stock after selling 1,513 shares during the period. Kestra Private Wealth Services LLC’s holdings in AppLovin were worth $2,989,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in APP. Board of the Pension Protection Fund acquired a new position in AppLovin during the fourth quarter worth $27,000. Washington Trust Advisors Inc. increased its stake in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in AppLovin in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC bought a new stake in AppLovin during the 4th quarter worth about $32,000. Finally, CENTRAL TRUST Co boosted its stake in shares of AppLovin by 41.3% during the 1st quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock worth $35,000 after buying an additional 26 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction on Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the transaction, the director directly owned 123,520 shares of the company’s stock, valued at approximately $71,893,580.80. This trade represents a 2.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 389,924 shares of company stock worth $195,693,875 in the last quarter. Company insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. KeyCorp set a $775.00 price objective on AppLovin in a report on Wednesday, June 10th. Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

AppLovin Price Performance

Shares of NASDAQ APP opened at $477.08 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The business’s 50 day moving average price is $497.00 and its two-hundred day moving average price is $510.88. The company has a market cap of $160.27 billion, a PE ratio of 40.99, a price-to-earnings-growth ratio of 0.78 and a beta of 2.45. AppLovin Corporation has a twelve month low of $325.58 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm posted $1.67 earnings per share. The business’s revenue was up 58.9% on a year-over-year basis. On average, analysts predict that AppLovin Corporation will post 15.97 EPS for the current year.

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.