AppLovin Corporation $APP Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its position in shares of AppLovin Corporation (NASDAQ:APP) by 31.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,760 shares of the company’s stock after acquiring an additional 1,142 shares during the period. Apollon Wealth Management LLC’s holdings in AppLovin were worth $3,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new position in shares of AppLovin in the 2nd quarter valued at about $26,000. LFA Lugano Financial Advisors SA purchased a new stake in AppLovin during the second quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of AppLovin in the second quarter worth $33,000. Heartwood Wealth Advisors LLC purchased a new stake in AppLovin during the 3rd quarter worth $33,000. Finally, Hoey Investments Inc. acquired a new stake in AppLovin in the 2nd quarter valued at $35,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction on 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 transaction, the chief technology officer directly owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 150 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the sale, the director owned 2,829 shares in the company, valued at $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 340,336 shares of company stock valued at $200,062,623 over the last quarter. Company insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on APP shares. Phillip Securities upgraded AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Piper Sandler upped their price target on AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Benchmark upped their target price on shares of AppLovin from $700.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Nineteen research 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $695.90.

AppLovin Stock Down 2.2%

APP stock opened at $698.82 on Tuesday. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The firm has a fifty day moving average price of $632.59 and a two-hundred day moving average price of $526.52. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The firm has a market cap of $236.17 billion, a price-to-earnings ratio of 84.81, a PEG ratio of 3.83 and a beta of 2.51.

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

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.