AppLovin Corporation $APP Stock Position Boosted by Corient Private Wealth LLC

Corient Private Wealth LLC raised its stake in shares of AppLovin Corporation (NASDAQ:APP) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,579 shares of the company’s stock after buying an additional 14,271 shares during the period. Corient Private Wealth LLC’s holdings in AppLovin were worth $97,440,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pure Financial Advisors LLC boosted its holdings in shares of AppLovin by 12.0% in the fourth quarter. Pure Financial Advisors LLC now owns 337 shares of the company’s stock valued at $227,000 after acquiring an additional 36 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in AppLovin by 31.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,461 shares of the company’s stock worth $985,000 after purchasing an additional 346 shares in the last quarter. SHP Wealth Management bought a new stake in AppLovin during the fourth quarter worth approximately $52,000. Tulsa Wealth Advisors INC bought a new stake in AppLovin during the fourth quarter worth approximately $264,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in AppLovin by 36,164.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,165 shares of the company’s stock worth $4,154,000 after purchasing an additional 6,148 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of a number of research reports. UBS Group decreased their price target on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Oppenheimer dropped their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a report on Tuesday, June 9th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, May 28th. Finally, Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction 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 sale, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is owned by corporate insiders.

AppLovin Price Performance

APP stock opened at $469.71 on Friday. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The firm has a market cap of $157.79 billion, a PE ratio of 40.35, a P/E/G ratio of 0.76 and a beta of 2.45. The firm has a 50 day simple moving average of $492.23 and a 200 day simple moving average of $517.80. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm 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 firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. Equities research analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

About AppLovin

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.