Capital International Investors Boosts Stake in AppLovin Corporation $APP

Capital International Investors increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 20.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 981,214 shares of the company’s stock after purchasing an additional 164,653 shares during the period. Capital International Investors’ holdings in AppLovin were worth $661,225,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Board of the Pension Protection Fund purchased a new position in shares of AppLovin during the 4th quarter worth approximately $27,000. Washington Trust Advisors Inc. boosted its position in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares during the period. Laurel Wealth Advisors LLC purchased a new position in AppLovin in the 4th quarter valued at approximately $32,000. CBIZ Investment Advisory Services LLC boosted its position in AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the period. Finally, Graney & King LLC purchased a new position in AppLovin in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $557.20 on Monday. The company’s fifty day moving average price is $470.43 and its 200 day moving average price is $521.30. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. 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 capitalization of $187.19 billion, a P/E ratio of 47.87, a P/E/G ratio of 0.91 and a beta of 2.45.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business earned $1.67 EPS. AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, May 28th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, UBS Group reduced their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $664.35.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 40,704 shares of AppLovin stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at $1,117,625,877.90. This trade represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on 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 sale, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 467,092 shares of company stock worth $220,268,340 over the last three months. Company insiders own 13.66% of the company’s stock.

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.