Dakota Wealth Management Increases Holdings in AppLovin Corporation $APP

Dakota Wealth Management boosted its stake in AppLovin Corporation (NASDAQ:APP) by 14.8% in the 3rd quarter, Holdings Channel reports. The firm owned 23,055 shares of the company’s stock after buying an additional 2,969 shares during the quarter. Dakota Wealth Management’s holdings in AppLovin were worth $16,566,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Stonebrook Private Inc. purchased a new stake in shares of AppLovin in the third quarter worth about $282,000. Cary Street Partners Investment Advisory LLC acquired a new position in AppLovin during the 3rd quarter worth approximately $296,000. Private Advisory Group LLC boosted its holdings in AppLovin by 96.5% in the 3rd quarter. Private Advisory Group LLC now owns 1,179 shares of the company’s stock worth $847,000 after acquiring an additional 579 shares during the period. Trajan Wealth LLC acquired a new stake in AppLovin in the third quarter valued at approximately $220,000. Finally, Verus Capital Partners LLC acquired a new stake in AppLovin in the third quarter valued at approximately $226,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of AppLovin stock opened at $380.62 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The firm’s 50-day simple moving average is $560.57 and its 200-day simple moving average is $573.34. The firm has a market cap of $128.63 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 0.86 and a beta of 2.49.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $1.73 earnings per share. AppLovin’s quarterly revenue was up 66.0% on a year-over-year basis. Equities analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the transaction, the director owned 2,829 shares of the company’s stock, valued at $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the sale, the insider owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 13.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on APP. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, February 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Monday, February 2nd. Finally, Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Twenty-one analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $651.77.

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.