AppLovin Corporation $APP Stock Holdings Increased by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd lifted its holdings in AppLovin Corporation (NASDAQ:APP) by 36,164.7% in the 4th quarter, HoldingsChannel reports. The firm owned 6,165 shares of the company’s stock after purchasing an additional 6,148 shares during the quarter. AppLovin makes up 1.0% of Caitong International Asset Management Co. Ltd’s portfolio, making the stock its 15th largest holding. Caitong International Asset Management Co. Ltd’s holdings in AppLovin were worth $4,154,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new stake in AppLovin in the fourth quarter worth approximately $294,000. Bison Wealth LLC acquired a new position in AppLovin during the fourth quarter worth about $239,000. Integrated Wealth Concepts LLC raised its position in AppLovin by 58.0% in the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in AppLovin by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after acquiring an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after purchasing an additional 9,380 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ:APP opened at $469.71 on Friday. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The firm has a market capitalization of $157.79 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 0.76 and a beta of 2.45. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The business’s fifty day moving average price is $492.23 and its 200 day moving average price is $517.80.

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

Analysts Set New Price Targets

Several analysts recently commented on APP shares. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. UBS Group cut their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. KeyCorp set a $775.00 price objective on AppLovin in a research note on Wednesday, June 10th. BTIG Research restated a “buy” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $669.62.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 22,544 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the sale, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 389,924 shares of company stock valued at $195,693,875. 13.66% of the stock is currently owned by company insiders.

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.