TriaGen Wealth Management LLC Invests $2.27 Million in AppLovin Corporation $APP

TriaGen Wealth Management LLC purchased a new position in AppLovin Corporation (NASDAQ:APP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,364 shares of the company’s stock, valued at approximately $2,267,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in AppLovin by 39.4% during the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after acquiring an additional 7,051,663 shares in the last quarter. State Street Corp lifted its stake in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in AppLovin in the 3rd quarter worth approximately $1,456,108,000. Jennison Associates LLC boosted its holdings in shares of AppLovin by 55.2% during the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock worth $2,792,355,000 after purchasing an additional 1,381,970 shares during the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of AppLovin in the third quarter valued at approximately $743,899,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

APP stock opened at $477.20 on Monday. AppLovin Corporation has a one year low of $222.02 and a one year high of $745.61. The firm has a market cap of $160.95 billion, a PE ratio of 48.94, a PEG ratio of 0.83 and a beta of 2.50. The firm’s 50 day moving average price is $429.44 and its 200-day moving average price is $545.48. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.35. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 earnings per share. On average, equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the sale, the chief executive officer directly owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 365,244 shares of company stock valued at $169,584,607 in the last quarter. Insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APP shares. Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. Piper Sandler reissued an “overweight” rating and set a $650.00 price objective (down from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. Wells Fargo & Company upped their target price on AppLovin from $543.00 to $560.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Morgan Stanley set a $720.00 target price on AppLovin in a research note on Thursday, February 12th. Finally, Evercore reiterated a “buy” rating on shares of AppLovin in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.95.

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.