Leeward Financial Partners LLC Purchases 5,990 Shares of AppLovin Corporation $APP

Leeward Financial Partners LLC raised its position in AppLovin Corporation (NASDAQ:APP) by 90.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,627 shares of the company’s stock after purchasing an additional 5,990 shares during the quarter. AppLovin accounts for approximately 1.5% of Leeward Financial Partners LLC’s holdings, making the stock its 21st biggest holding. Leeward Financial Partners LLC’s holdings in AppLovin were worth $5,026,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC raised its holdings in shares of AppLovin by 25.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,029 shares of the company’s stock worth $1,205,000 after buying an additional 611 shares during the period. OP Asset Management Ltd bought a new stake in shares of AppLovin during the 1st quarter worth approximately $9,341,000. Legal Advantage Investments Inc. boosted its holdings in AppLovin by 46.7% during the 1st quarter. Legal Advantage Investments Inc. now owns 7,885 shares of the company’s stock valued at $3,138,000 after acquiring an additional 2,510 shares during the period. CENTRAL TRUST Co boosted its holdings in AppLovin by 41.3% during the 1st quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock valued at $35,000 after acquiring an additional 26 shares during the period. Finally, Verde Servicos Internacionais S.A. bought a new position in AppLovin in the 1st quarter valued at $2,667,000. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In related news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 22,544 shares of AppLovin stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the transaction, the chief executive officer owned 2,327,684 shares in the company, valued at $1,152,157,026.32. This trade represents a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 389,924 shares of company stock worth $195,693,875 over the last ninety days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Stock Performance

Shares of APP stock opened at $464.87 on Thursday. The firm has a market cap of $156.17 billion, a price-to-earnings ratio of 39.94, a PEG ratio of 0.76 and a beta of 2.45. AppLovin Corporation has a 52-week low of $325.58 and a 52-week high of $745.61. 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 company’s 50 day moving average is $496.50 and its 200 day moving average is $512.85.

AppLovin (NASDAQ:APP) last posted its 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 company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. AppLovin’s revenue was up 58.9% on a year-over-year basis. On average, sell-side analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APP. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price objective on shares of AppLovin in a report on Thursday, May 28th. Finally, Wedbush reissued an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $669.62.

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.