Bessemer Group Inc. Acquires 2,984 Shares of AppLovin Corporation $APP

Bessemer Group Inc. grew its holdings in AppLovin Corporation (NASDAQ:APP) by 2.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,924 shares of the company’s stock after purchasing an additional 2,984 shares during the period. Bessemer Group Inc.’s holdings in AppLovin were worth $48,923,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in APP. Board of the Pension Protection Fund bought a new position in shares of AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. raised its holdings in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in AppLovin during the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC acquired a new position in AppLovin during the fourth quarter valued at approximately $32,000. Finally, First Pacific Financial acquired a new position in AppLovin during the first quarter valued at approximately $33,000. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research note on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Raymond James Financial initiated coverage on shares of AppLovin in a report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 target price on the stock. Wells Fargo & Company upped their price target on shares of AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $668.45.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 393,000 shares of company stock valued at $197,297,363 in the last quarter. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $424.54 on Friday. AppLovin Corporation has a 52 week low of $343.00 and a 52 week high of $745.61. The company has a market capitalization of $142.62 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 0.71 and a beta of 2.49. The company has a 50-day simple moving average of $506.01 and a 200 day simple moving average of $489.19. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.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 posted $1.67 earnings per share. The business’s revenue was up 58.9% on a year-over-year basis. On average, sell-side analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current 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.