Blue Jean Financial LLC Buys New Stake in AppLovin Corporation $APP

Blue Jean Financial LLC bought a new stake in AppLovin Corporation (NASDAQ:APP) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 4,646 shares of the company’s stock, valued at approximately $3,131,000. AppLovin accounts for 2.5% of Blue Jean Financial LLC’s investment portfolio, making the stock its 5th largest holding.

Several other large investors have also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. lifted its stake in shares of 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 purchasing an additional 18 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of 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 purchasing an additional 18 shares during the period. Claro Advisors LLC lifted its stake in shares of 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 purchasing an additional 20 shares during the period. Strategic Advocates LLC lifted its stake in shares of 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 purchasing an additional 21 shares during the period. Finally, Finivi Inc. lifted its stake in shares of AppLovin by 3.2% in the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after purchasing an additional 22 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the completion of the sale, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 389,924 shares of company stock valued at $187,404,946. 13.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

APP has been the subject of several analyst reports. Argus assumed coverage on shares of AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. Citigroup restated a “buy” rating and set a $710.00 price objective on shares of AppLovin in a research report on Monday, June 1st. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday. Finally, Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $669.62.

More AppLovin News

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

AppLovin Stock Performance

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

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $1.67 earnings per share. The firm’s revenue for the quarter was up 58.9% on a year-over-year basis. As a group, research analysts forecast 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.