First American Trust FSB Boosts Stake in AppLovin Corporation $APP

First American Trust FSB raised its position in AppLovin Corporation (NASDAQ:APP) by 382.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,765 shares of the company’s stock after buying an additional 1,399 shares during the period. First American Trust FSB’s holdings in AppLovin were worth $1,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 last quarter. Redhawk Wealth Advisors Inc. boosted its position in AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after buying an additional 18 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after buying an additional 18 shares during the last quarter. Claro Advisors LLC boosted its position in AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after buying an additional 20 shares during the last quarter. Finally, Strategic Advocates LLC boosted its position in AppLovin by 0.8% in the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after buying an additional 21 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated 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 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the completion of the sale, the director owned 123,520 shares in the company, valued at $71,893,580.80. The trade was a 2.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 306,668 shares of company stock valued at $145,923,868 over the last quarter. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $492.98 on Thursday. The stock has a market capitalization of $165.61 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 0.85 and a beta of 2.45. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The company’s 50-day simple moving average is $479.09 and its 200-day simple moving average is $521.31. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on APP. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, May 28th. Jefferies Financial Group reduced their price target on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. KeyCorp set a $775.00 price target on shares of AppLovin in a research report on Wednesday. Citigroup reaffirmed a “buy” rating and set a $710.00 price target on shares of AppLovin in a research report on Monday, June 1st. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Citi added AppLovin to its “Upside 90-Day Catalyst Watch,” suggesting a near-term catalyst could help support the stock. Citi Adds “Upside 90-Day Catalyst Watch” on AppLovin Corporation (APP)
• Positive Sentiment: Analyst commentary remains constructive, with recent notes reaffirming bullish ratings and one article highlighting AppLovin’s recent gains and expected EPS growth of more than 40% annually over the next five years. AppLovin Corporation (APP) Up More Than 12% Over the Past Month, Here’s Why it is an Unstoppable Growth 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.