WD Rutherford LLC Has $2.79 Million Stock Holdings in AppLovin Corporation $APP

WD Rutherford LLC boosted its position in AppLovin Corporation (NASDAQ:APP) by 19.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 7,023 shares of the company’s stock after buying an additional 1,160 shares during the quarter. WD Rutherford LLC’s holdings in AppLovin were worth $2,795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APP. Allworth Financial LP increased its holdings in AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares during the last quarter. APG Asset Management N.V. bought a new position in AppLovin during the third quarter worth about $4,958,000. Franklin Resources Inc. grew its position in shares of AppLovin by 24.9% during the 3rd quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock worth $1,754,996,000 after buying an additional 487,492 shares during the period. Generate Investment Management Ltd acquired a new position in shares of AppLovin during the 4th quarter worth about $2,347,000. Finally, Kinetic Partners Management LP grew its position in shares of AppLovin by 7.5% during the 3rd quarter. Kinetic Partners Management LP now owns 128,106 shares of the company’s stock worth $92,049,000 after buying an additional 8,930 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APP. Argus initiated coverage on shares of AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target on the stock. Oppenheimer decreased their price objective on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. Wells Fargo & Company increased their target price on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Citigroup reissued a “buy” rating on shares of AppLovin in a research report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $668.27.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 389,924 shares of company stock worth $195,693,875. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

APP opened at $564.61 on Thursday. The business’s 50-day moving average price is $499.89 and its two-hundred day moving average price is $505.63. AppLovin Corporation has a 1 year low of $325.58 and a 1 year high of $745.61. The company has a market capitalization of $189.68 billion, a price-to-earnings ratio of 48.51, a P/E/G ratio of 0.83 and a beta of 2.49. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its quarterly 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. Equities analysts expect that AppLovin Corporation will post 15.96 EPS for the current fiscal year.

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.