Banque Cantonale Vaudoise raised its stake in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 39.7% in the 4th quarter, Holdings Channel reports. The firm owned 5,429 shares of the company’s stock after purchasing an additional 1,543 shares during the quarter. Banque Cantonale Vaudoise’s holdings in AppLovin were worth $3,658,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new stake in AppLovin during the 4th quarter worth about $294,000. Bison Wealth LLC acquired a new stake in AppLovin during the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC grew its holdings in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares during the period. NewEdge Advisors LLC grew its holdings in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after acquiring an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after acquiring an additional 9,380 shares during the period. 41.85% of the stock is owned by institutional investors.
Insider Activity at AppLovin
In related news, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is owned by corporate insiders.
AppLovin Price Performance
AppLovin (NASDAQ:APP – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Argus assumed coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Finally, Evercore restated a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $664.35.
Check Out Our Latest Analysis on AppLovin
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.
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