Abacus FCF Advisors LLC Buys 7,684 Shares of AppLovin Corporation $APP

Abacus FCF Advisors LLC increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 26.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,385 shares of the company’s stock after acquiring an additional 7,684 shares during the quarter. AppLovin comprises approximately 3.5% of Abacus FCF Advisors LLC’s portfolio, making the stock its 3rd largest holding. Abacus FCF Advisors LLC’s holdings in AppLovin were worth $26,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of APP. Norges Bank purchased a new stake in shares of AppLovin in the second quarter valued at about $951,541,000. Royal Bank of Canada increased its position in AppLovin by 61.1% in the 1st quarter. Royal Bank of Canada now owns 1,434,503 shares of the company’s stock valued at $380,102,000 after acquiring an additional 544,107 shares during the period. Amundi raised its stake in AppLovin by 82.8% during the 1st quarter. Amundi now owns 1,103,586 shares of the company’s stock valued at $289,117,000 after acquiring an additional 499,820 shares during the last quarter. National Pension Service lifted its position in AppLovin by 82.2% during the 2nd quarter. National Pension Service now owns 790,271 shares of the company’s stock worth $276,658,000 after acquiring an additional 356,443 shares during the period. Finally, Voya Investment Management LLC lifted its position in AppLovin by 235.5% during the 3rd quarter. Voya Investment Management LLC now owns 496,560 shares of the company’s stock worth $356,800,000 after acquiring an additional 348,548 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Down 2.2%

Shares of AppLovin stock opened at $698.82 on Tuesday. The company has a 50-day moving average of $632.59 and a two-hundred day moving average of $526.52. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock has a market cap of $236.17 billion, a PE ratio of 84.81, a price-to-earnings-growth ratio of 3.83 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.34 by $0.11. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The company’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 EPS. On average, research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on APP shares. Morgan Stanley boosted their target price on AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Wells Fargo & Company boosted their price objective on shares of AppLovin from $633.00 to $721.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Scotiabank upped their price objective on shares of AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, Citigroup dropped their price target on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Nineteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $695.90.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 150,000 shares of AppLovin stock in a transaction on Monday, November 10th. The stock was sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the completion of the transaction, the director owned 7,133,292 shares of the company’s stock, valued at $4,643,131,095.72. The trade was a 2.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the sale, the chief technology officer owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 340,336 shares of company stock valued at $200,062,623. 13.66% of the stock is owned by insiders.

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.