IPG Investment Advisors LLC Makes New Investment in AppLovin Corporation $APP

IPG Investment Advisors LLC bought a new position in shares of AppLovin Corporation (NASDAQ:APP) during the 4th quarter, Holdings Channel.com reports. The fund bought 2,318 shares of the company’s stock, valued at approximately $1,562,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in AppLovin by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after purchasing an additional 166,117 shares during the period. State Street Corp increased its position in AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares during the period. Geode Capital Management LLC increased its position in AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock worth $4,817,269,000 after purchasing an additional 448,005 shares during the period. Invesco Ltd. increased its position in AppLovin by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock worth $3,084,514,000 after purchasing an additional 367,083 shares during the period. Finally, Kensico Capital Management Corp increased its position in AppLovin by 3.1% during the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock worth $2,240,767,000 after purchasing an additional 95,000 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related 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 sale, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 2,889 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $488.90, for a total value of $1,412,432.10. Following the completion of the sale, the chief technology officer directly owned 17,945 shares in the company, valued at approximately $8,773,310.50. The trade was a 13.87% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 454,964 shares of company stock valued at $213,046,785. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Performance

APP opened at $567.83 on Thursday. The stock has a market cap of $190.76 billion, a P/E ratio of 48.78, a P/E/G ratio of 0.84 and a beta of 2.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock’s 50 day simple moving average is $450.35 and its 200 day simple moving average is $521.20. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping 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 business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm posted $1.67 EPS. The company’s revenue was up 58.9% compared to the same quarter last year. As a group, equities analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and a $720 price target on AppLovin, helping push the stock sharply higher as investors reacted to the upgraded bullish tone. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Reports also said Meta Platforms is not expected to bid on certain mobile ad traffic, which could leave more market share and pricing opportunity for AppLovin in mobile advertising. AppLovin (APP) Stock Trades Up, Here Is Why
• Neutral Sentiment: Additional market chatter highlighted AppLovin as one of the stocks making big moves and one of the day’s top performers, reinforcing the momentum behind the shares. Stocks making big moves yesterday: Allient, AutoZone, Redwire, Marvell Technology, and AppLovin
• Negative Sentiment: AppLovin CTO Vasily Shikin disclosed multiple stock sales totaling tens of thousands of shares at prices around the mid-$480s, trimming his holdings by a meaningful amount; insider selling can sometimes weigh on sentiment. Vasily Shikin insider transaction filings

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on APP. Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

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.