Yousif Capital Management LLC Increases Stock Holdings in AppLovin Corporation (NASDAQ:APP)

Yousif Capital Management LLC increased its holdings in AppLovin Corporation (NASDAQ:APP) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,544 shares of the company’s stock after acquiring an additional 119 shares during the quarter. Yousif Capital Management LLC’s holdings in AppLovin were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC raised its holdings in AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. SVB Wealth LLC bought a new position in AppLovin in the fourth quarter worth $1,781,922,000. Geode Capital Management LLC raised its holdings in AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after purchasing an additional 573,310 shares in the last quarter. Invesco Ltd. raised its holdings in AppLovin by 68.0% in the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company’s stock worth $977,639,000 after purchasing an additional 1,222,074 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock worth $936,888,000 after purchasing an additional 2,373,885 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APP. Wells Fargo & Company raised their price target on AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Oppenheimer restated an “outperform” rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on AppLovin from $355.00 to $400.00 and gave the company a “neutral” rating in a report on Tuesday, June 3rd. Arete Research set a $200.00 price target on AppLovin in a report on Wednesday, March 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $438.10.

Insiders Place Their Bets

In other news, Director Craig Scott Billings sold 12,000 shares of AppLovin stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $353.12, for a total transaction of $4,237,440.00. Following the transaction, the director now directly owns 2,987 shares of the company’s stock, valued at $1,054,769.44. The trade was a 80.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 171,420 shares of AppLovin stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $373.77, for a total value of $64,071,653.40. Following the transaction, the director now directly owns 221,209 shares in the company, valued at approximately $82,681,287.93. The trade was a 43.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Insiders own 13.66% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $344.37 on Thursday. The company has a market capitalization of $116.53 billion, a price-to-earnings ratio of 62.16, a PEG ratio of 2.09 and a beta of 2.53. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a 50-day moving average of $330.10 and a 200 day moving average of $334.71. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. On average, sell-side analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.