Vise Technologies Inc. Raises Stake in AppLovin Corporation $APP

Vise Technologies Inc. increased its stake in AppLovin Corporation (NASDAQ:APP) by 20.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,947 shares of the company’s stock after buying an additional 998 shares during the quarter. Vise Technologies Inc.’s holdings in AppLovin were worth $4,007,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP raised its position in AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock worth $4,347,000 after acquiring an additional 3,438 shares during the period. APG Asset Management N.V. bought a new position in AppLovin in the third quarter worth approximately $4,958,000. Metis Global Partners LLC raised its position in AppLovin by 138.3% in the third quarter. Metis Global Partners LLC now owns 10,094 shares of the company’s stock worth $7,253,000 after acquiring an additional 5,859 shares during the period. Stratos Wealth Partners LTD. raised its position in AppLovin by 35.4% in the third quarter. Stratos Wealth Partners LTD. now owns 27,831 shares of the company’s stock worth $19,998,000 after acquiring an additional 7,271 shares during the period. Finally, Franklin Resources Inc. raised its position in AppLovin by 24.9% in the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock worth $1,754,996,000 after acquiring an additional 487,492 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, May 28th. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Citigroup reiterated a “buy” rating and issued a $710.00 price target on shares of AppLovin in a research report on Monday, June 1st. Scotiabank increased their price target on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Oppenheimer decreased their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 2,889 shares of the stock in a transaction 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 of the company’s stock, valued at $8,773,310.50. This represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 467,092 shares of company stock valued at $220,268,340. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $557.20 on Friday. The firm has a fifty day moving average price of $470.43 and a 200-day moving average price of $521.43. 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 has a market cap of $187.19 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 0.91 and a beta of 2.45. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 earnings per share. Equities analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

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.