AppLovin Corporation $APP Stock Position Raised by Cumberland Partners Ltd

Cumberland Partners Ltd grew its holdings in AppLovin Corporation (NASDAQ:APP) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Cumberland Partners Ltd’s holdings in AppLovin were worth $4,043,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of APP. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin in the fourth quarter valued at $27,000. Washington Trust Advisors Inc. lifted its holdings in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of AppLovin in the third quarter valued at $29,000. Activest Wealth Management lifted its holdings in shares of AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group reduced their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Oppenheimer reduced their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Wedbush reiterated an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. BTIG Research reiterated a “buy” rating and set a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One equities 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was 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 in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. This trade represents a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 365,244 shares of company stock worth $169,584,607 over the last three months. Corporate insiders own 13.66% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $481.68 on Friday. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The stock’s 50-day moving average is $446.31 and its two-hundred day moving average is $523.95. 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 firm has a market cap of $161.82 billion, a P/E ratio of 41.38, a price-to-earnings-growth ratio of 0.79 and a beta of 2.37.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $1.67 earnings per share. The business’s revenue was up 58.9% compared to the same quarter last year. On average, 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.