Trilogy Capital Inc. boosted its position in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 18.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,154 shares of the company’s stock after buying an additional 1,122 shares during the period. Trilogy Capital Inc.’s holdings in AppLovin were worth $2,847,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the fourth quarter worth approximately $27,000. Washington Trust Advisors Inc. raised its stake in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new position in AppLovin in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC purchased a new position in AppLovin in the 4th quarter valued at $32,000. Finally, CENTRAL TRUST Co boosted its stake in AppLovin by 41.3% during the 1st quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock worth $35,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.
Insider Activity at AppLovin
In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the transaction, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the completion of the sale, the chief technology officer directly owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 389,924 shares of company stock valued at $195,693,875 over the last ninety days. Corporate insiders own 13.66% of the company’s stock.
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 firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company posted $1.67 EPS. The company’s revenue was up 58.9% compared to the same quarter last year. As a group, equities analysts forecast that AppLovin Corporation will post 15.97 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on APP shares. Oppenheimer reduced their target price on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. UBS Group lowered their price target on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Benchmark reiterated a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Finally, Wells Fargo & Company raised their target price on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $669.62.
Read Our Latest Research Report on APP
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.
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