Illumine Investment Management LLC Makes New $4.12 Million Investment in AppLovin Corporation $APP

Illumine Investment Management LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,740 shares of the company’s stock, valued at approximately $4,124,000. AppLovin makes up 2.9% of Illumine Investment Management LLC’s holdings, making the stock its 4th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC purchased a new position in AppLovin in the third quarter worth $29,000. Activest Wealth Management grew its stake in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after buying an additional 38 shares during the last quarter. Heartwood Wealth Advisors LLC purchased a new position in AppLovin during the 3rd quarter worth $33,000. Bogart Wealth LLC increased its position in AppLovin by 100.0% during the 3rd quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock valued at $34,000 after buying an additional 24 shares in the last quarter. Finally, Wolff Wiese Magana LLC purchased a new stake in AppLovin in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $483.00 on Tuesday. The firm has a market capitalization of $163.23 billion, a P/E ratio of 58.62, a PEG ratio of 1.56 and a beta of 2.49. The stock has a 50-day simple moving average of $633.80 and a two-hundred day simple moving average of $569.61. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61.

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

Insider Activity

In related news, CTO Vasily Shikin sold 27,143 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the sale, the chief technology officer 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 4,069 shares of AppLovin stock in a transaction on Friday, November 21st. The shares were sold at an average price of $497.50, for a total transaction of $2,024,327.50. Following the completion of the transaction, the chief executive officer directly owned 2,998,948 shares of the company’s stock, valued at $1,491,976,630. The trade was a 0.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 340,336 shares of company stock valued at $200,062,623. 13.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APP. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Evercore ISI reiterated a “buy” rating on shares of AppLovin in a research note on Friday. BTIG Research reissued a “buy” rating and issued a $771.00 target price on shares of AppLovin in a research report on Wednesday, December 17th. Morgan Stanley raised their target price on AppLovin from $750.00 to $800.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Finally, The Goldman Sachs Group boosted their price target on AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $706.45.

AppLovin Company 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.