Cetera Investment Advisers Lowers Stock Holdings in AppLovin Corporation $APP

Cetera Investment Advisers reduced its holdings in AppLovin Corporation (NASDAQ:APP) by 5.8% during the 1st quarter, Holdings Channel reports. The firm owned 70,193 shares of the company’s stock after selling 4,352 shares during the quarter. Cetera Investment Advisers’ holdings in AppLovin were worth $27,937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Calamos Advisors LLC boosted its stake in shares of AppLovin by 73.3% in the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock worth $32,840,000 after acquiring an additional 20,609 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new position in AppLovin in the 4th quarter valued at $4,043,000. Dara Capital US Inc. acquired a new position in AppLovin in the 4th quarter valued at $1,747,000. Nisa Investment Advisors LLC lifted its holdings in AppLovin by 97.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 43,988 shares of the company’s stock valued at $29,640,000 after purchasing an additional 21,694 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in AppLovin by 12.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,265 shares of the company’s stock worth $131,573,000 after purchasing an additional 21,427 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

NASDAQ APP opened at $391.98 on Monday. The business’s fifty day simple moving average is $498.97 and its 200-day simple moving average is $479.01. 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 firm has a market cap of $131.68 billion, a PE ratio of 33.68, a P/E/G ratio of 0.64 and a beta of 2.49. AppLovin Corporation has a 52 week low of $357.03 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm posted $1.67 earnings per share. AppLovin’s quarterly revenue was up 58.9% on a year-over-year basis. As a group, equities analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on APP shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, May 28th. Wedbush restated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. KeyCorp set a $775.00 price objective on shares of AppLovin in a research note on Wednesday, June 10th. Finally, BTIG Research reiterated a “buy” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Two equities research 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’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $668.45.

Insider Activity

In related news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction 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 sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is 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.