CHICAGO TRUST Co NA Has $904,000 Holdings in AppLovin Corporation $APP

CHICAGO TRUST Co NA decreased its holdings in AppLovin Corporation (NASDAQ:APP) by 30.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,272 shares of the company’s stock after selling 1,010 shares during the quarter. CHICAGO TRUST Co NA’s holdings in AppLovin were worth $904,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Revolve Wealth Partners LLC bought a new stake in AppLovin during the fourth quarter worth $294,000. Bison Wealth LLC purchased a new position in AppLovin during the 4th quarter worth $239,000. Integrated Wealth Concepts LLC boosted its holdings in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of AppLovin by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after acquiring an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of AppLovin by 7.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after acquiring an additional 9,380 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 9.6%

Shares of NASDAQ APP opened at $564.61 on Thursday. AppLovin Corporation has a 52 week low of $325.58 and a 52 week high of $745.61. The company has a market cap of $189.68 billion, a P/E ratio of 48.51, a P/E/G ratio of 0.83 and a beta of 2.49. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The business has a 50-day simple moving average of $499.89 and a two-hundred day simple moving average of $505.63.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating 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 company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company earned $1.67 earnings per share. AppLovin’s revenue for the quarter was up 58.9% on a year-over-year basis. Research analysts anticipate that AppLovin Corporation will post 15.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APP. Citigroup restated a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. UBS Group dropped their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Oppenheimer dropped their price target on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. JPMorgan Chase & Co. boosted their price objective on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $668.27.

Insider Activity at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the transaction, the director owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 389,924 shares of company stock valued at $195,693,875 in the last ninety days. 13.66% of the stock is currently owned by corporate 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.