Cwm LLC Acquires 1,010 Shares of AppLovin Corporation $APP

Cwm LLC lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 25.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,010 shares of the company’s stock after acquiring an additional 1,010 shares during the quarter. Cwm LLC’s holdings in AppLovin were worth $3,600,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of APP. Optas LLC boosted its holdings in AppLovin by 2.5% in the 3rd quarter. Optas LLC now owns 877 shares of the company’s stock valued at $630,000 after purchasing an additional 21 shares during the period. Bartlett & CO. Wealth Management LLC raised its holdings in shares of AppLovin by 19.6% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock worth $96,000 after buying an additional 22 shares in the last quarter. Avestar Capital LLC lifted its position in shares of AppLovin by 2.1% during the 2nd quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock worth $391,000 after buying an additional 23 shares during the period. RWA Wealth Partners LLC grew its position in AppLovin by 0.4% in the second quarter. RWA Wealth Partners LLC now owns 7,680 shares of the company’s stock valued at $2,689,000 after acquiring an additional 33 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of AppLovin by 0.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,431 shares of the company’s stock valued at $1,551,000 after purchasing an additional 33 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on APP. Scotiabank lifted their target price on shares of AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Royal Bank Of Canada raised their price target on AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Wedbush lifted their price objective on AppLovin from $745.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group boosted their price objective on AppLovin from $800.00 to $860.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Nineteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $695.90.

AppLovin Stock Performance

AppLovin stock opened at $673.82 on Friday. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The company’s 50-day moving average is $639.27 and its two-hundred day moving average is $530.85. 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 company has a market cap of $227.72 billion, a PE ratio of 81.77, a PEG ratio of 3.62 and a beta of 2.50.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating 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 business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business posted $1.29 earnings per share. AppLovin’s revenue was up 68.2% compared to the same quarter last year. Equities analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Activity

In other news, CTO Vasily Shikin sold 27,143 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the transaction, the chief technology officer directly owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction on Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer directly owned 2,553,161 shares of the company’s stock, valued at approximately $1,328,384,136.69. This trade represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 340,336 shares of company stock valued at $200,062,623 in the last 90 days. 13.66% of the stock is owned by company insiders.

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.