Adams Diversified Equity Fund Inc. Purchases Shares of 6,400 AppLovin Corporation $APP

Adams Diversified Equity Fund Inc. acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,400 shares of the company’s stock, valued at approximately $4,312,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. purchased a new position in AppLovin during the 4th quarter worth approximately $114,000. Aptus Capital Advisors LLC grew its holdings in shares of AppLovin by 59.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 33,471 shares of the company’s stock valued at $22,553,000 after acquiring an additional 12,426 shares in the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of AppLovin by 53.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 4,946 shares of the company’s stock valued at $3,333,000 after acquiring an additional 1,727 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of AppLovin by 0.8% during the 4th quarter. Kestra Advisory Services LLC now owns 8,519 shares of the company’s stock valued at $5,740,000 after acquiring an additional 68 shares in the last quarter. Finally, Liberty One Investment Management LLC purchased a new position in shares of AppLovin during the 4th quarter valued at $179,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on APP shares. Oppenheimer decreased their price objective on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, May 28th. UBS Group decreased their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Finally, Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. One 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the sale, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares in the company, valued at approximately $106,470,000. The trade was a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 389,924 shares of company stock valued at $187,404,946 in the last three months. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Up 3.8%

AppLovin stock opened at $496.77 on Friday. The firm has a fifty day moving average price of $482.88 and a two-hundred day moving average price of $520.84. The firm has a market cap of $166.88 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 0.81 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during 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%. The firm’s revenue for the quarter 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. As a group, analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

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.