SMART Wealth LLC Takes $2.52 Million Position in AppLovin Corporation $APP

SMART Wealth LLC bought a new stake in AppLovin Corporation (NASDAQ:APP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,738 shares of the company’s stock, valued at approximately $2,519,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of AppLovin by 39.4% in the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after buying an additional 7,051,663 shares in the last quarter. State Street Corp increased its stake in shares of AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Invesco Ltd. increased its stake in shares of AppLovin by 9.4% in the third quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock valued at $3,084,514,000 after buying an additional 367,083 shares in the last quarter. Jennison Associates LLC increased its stake in shares of AppLovin by 55.2% in the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after buying an additional 1,381,970 shares in the last quarter. Finally, Kensico Capital Management Corp increased its stake in shares of AppLovin by 3.1% in the third quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock valued at $2,240,767,000 after buying an additional 95,000 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

APP has been the topic of several recent research reports. Benchmark reiterated a “buy” rating on shares of AppLovin in a report on Friday, March 6th. Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Scotiabank raised their price target on AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. The Goldman Sachs Group decreased their price target on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a report 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $661.95.

AppLovin Price Performance

Shares of APP opened at $477.20 on Friday. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 1 year low of $222.02 and a 1 year high of $745.61. The stock has a market cap of $160.95 billion, a P/E ratio of 48.94, a price-to-earnings-growth ratio of 0.81 and a beta of 2.50. The stock’s 50-day moving average price is $429.44 and its two-hundred day moving average price is $547.78.

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

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was 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 in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 365,244 shares of company stock worth $169,584,607. Insiders own 13.66% of the company’s stock.

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.