AppLovin Corporation $APP Stock Position Boosted by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its position in shares of AppLovin Corporation (NASDAQ:APP) by 31.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,760 shares of the company’s stock after buying an additional 1,142 shares during the quarter. Apollon Wealth Management LLC’s holdings in AppLovin were worth $3,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APP. Heartwood Wealth Advisors LLC bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $33,000. Hilltop National Bank acquired a new position in AppLovin in the 2nd quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA purchased a new position in shares of AppLovin during the 2nd quarter valued at $26,000. Grove Bank & Trust purchased a new position in shares of AppLovin during the 3rd quarter valued at $58,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in AppLovin during the second quarter valued at $33,000. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and set a $775.00 price objective on shares of AppLovin in a research report on Thursday, December 11th. Phillip Securities upgraded AppLovin to a “moderate buy” rating in a report on Monday, September 29th. JPMorgan Chase & Co. boosted their price target on AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. The Goldman Sachs Group raised their price objective on AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Finally, Morgan Stanley increased their price target on AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Nineteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $695.90.

AppLovin Stock Down 2.2%

APP opened at $698.82 on Tuesday. The firm has a market cap of $236.17 billion, a price-to-earnings ratio of 84.81, a PEG ratio of 3.83 and a beta of 2.51. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. The firm’s 50-day simple moving average is $632.59 and its 200-day simple moving average is $526.52. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned $1.29 EPS. AppLovin’s revenue for the quarter was up 68.2% on a year-over-year basis. Equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 4,069 shares of AppLovin stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,998,948 shares of the company’s stock, valued at $1,491,976,630. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the transaction, the director directly owned 2,829 shares in the company, valued at approximately $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In 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.

About AppLovin

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.