Aware Super Pty Ltd as trustee of Aware Super Makes New $16.30 Million Investment in AppLovin Corporation $APP

Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 40,952 shares of the company’s stock, valued at approximately $16,299,000.

A number of other large investors have also modified their holdings of APP. Quartz Partners LLC purchased a new position in shares of AppLovin in the 1st quarter valued at about $5,078,000. Westover Capital Advisors LLC lifted its stake in AppLovin by 70.4% in the first quarter. Westover Capital Advisors LLC now owns 3,689 shares of the company’s stock worth $1,468,000 after acquiring an additional 1,524 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in AppLovin by 3.5% in the first quarter. Wealthfront Advisers LLC now owns 38,833 shares of the company’s stock worth $15,456,000 after acquiring an additional 1,317 shares during the last quarter. D.A. Davidson & CO. grew its holdings in AppLovin by 6.4% during the 1st quarter. D.A. Davidson & CO. now owns 1,277 shares of the company’s stock worth $508,000 after acquiring an additional 77 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of AppLovin by 3.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,927 shares of the company’s stock valued at $1,165,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 4.0%

Shares of AppLovin stock opened at $434.48 on Friday. AppLovin Corporation has a 1 year low of $343.00 and a 1 year high of $745.61. 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 market capitalization of $145.96 billion, a P/E ratio of 37.33, a PEG ratio of 0.74 and a beta of 2.49. The company’s fifty day moving average is $506.89 and its two-hundred day moving average is $489.64.

AppLovin (NASDAQ:APP) last announced its earnings results 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 analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue was up 58.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 earnings per share. Analysts forecast that AppLovin Corporation will post 15.93 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. KeyCorp set a $775.00 price objective on shares of AppLovin in a research report on Wednesday, June 10th. UBS Group dropped their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Weiss Ratings upgraded AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Finally, JPMorgan Chase & Co. upped 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. Two investment analysts have 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.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $668.45.

Insider Buying and Selling

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the transaction, the chief financial officer directly owned 177,450 shares in the company, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 2,369,351 shares in the company, valued at approximately $1,153,755,469.45. The trade was a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 393,000 shares of company stock worth $197,297,363. 13.66% of the stock is currently owned by 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.