Baer Investment Advisory LLC Purchases New Position in AppLovin Corporation $APP

Baer Investment Advisory LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP) during the 1st quarter, Holdings Channel.com reports. The fund acquired 970 shares of the company’s stock, valued at approximately $386,000.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors lifted its holdings in shares of AppLovin by 26.1% during the first quarter. World Investment Advisors now owns 7,095 shares of the company’s stock valued at $2,824,000 after purchasing an additional 1,468 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in AppLovin by 23.4% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 1,308 shares of the company’s stock worth $521,000 after buying an additional 248 shares in the last quarter. New York State Teachers Retirement System increased its holdings in AppLovin by 2.6% in the 1st quarter. New York State Teachers Retirement System now owns 221,973 shares of the company’s stock worth $88,345,000 after buying an additional 5,644 shares in the last quarter. Sierra Summit Advisors LLC raised its position in AppLovin by 41.5% in the 1st quarter. Sierra Summit Advisors LLC now owns 26,162 shares of the company’s stock worth $10,412,000 after buying an additional 7,676 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in AppLovin by 1,763.7% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 43,406 shares of the company’s stock worth $17,276,000 after buying an additional 41,077 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on APP shares. BTIG Research reaffirmed a “buy” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. KeyCorp set a $775.00 price objective on shares of AppLovin in a research report on Wednesday, June 10th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. lifted their target price 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $668.27.

Insider Buying and Selling

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. This trade represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 389,924 shares of company stock worth $195,693,875 in the last quarter. Company insiders own 13.66% of the company’s stock.

AppLovin Price Performance

APP opened at $527.06 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 1-year low of $325.58 and a 1-year high of $745.61. The company has a market capitalization of $177.06 billion, a PE ratio of 45.28, a PEG ratio of 0.85 and a beta of 2.49. The firm’s 50 day simple moving average is $501.83 and its two-hundred day simple moving average is $504.78.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results 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. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company posted $1.67 EPS. The company’s revenue was up 58.9% compared to the same quarter last year. As a group, equities analysts forecast that AppLovin Corporation will post 15.96 EPS for the current year.

AppLovin 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.