Leonteq Securities AG Makes New $2.01 Million Investment in AppLovin Corporation $APP

Leonteq Securities AG bought a new position in AppLovin Corporation (NASDAQ:APP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,983 shares of the company’s stock, valued at approximately $2,010,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CBIZ Investment Advisory Services LLC increased its stake in shares of AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its stake in shares of AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after acquiring an additional 18 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Claro Advisors LLC increased its stake in shares of AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after acquiring an additional 20 shares during the last quarter. Finally, Strategic Advocates LLC increased its stake in shares of AppLovin by 0.8% in the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after acquiring an additional 21 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 365,244 shares of company stock worth $169,584,607 in the last three months. 13.66% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on APP shares. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Evercore reissued a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Arete Research set a $340.00 price objective on AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Scotiabank raised their price objective on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Stock Up 1.1%

Shares of NASDAQ:APP opened at $482.28 on Thursday. The business has a 50-day moving average price of $445.73 and a 200 day moving average price of $525.32. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61. The company has a market capitalization of $162.02 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 0.78 and a beta of 2.37. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last announced its 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. 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 business posted $1.67 EPS. AppLovin’s revenue for the quarter was up 58.9% on a year-over-year basis. Sell-side analysts expect that AppLovin Corporation will post 15.86 EPS for the current 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.