Element Squared LLC Acquires New Shares in AppLovin Corporation $APP

Element Squared LLC bought a new position in shares of AppLovin Corporation (NASDAQ:APP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,969 shares of the company’s stock, valued at approximately $2,674,000. AppLovin makes up about 1.5% of Element Squared LLC’s portfolio, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds have also recently made changes to their positions in APP. Board of the Pension Protection Fund bought a new stake in shares of AppLovin during the 4th quarter valued at approximately $27,000. Chilton Capital Management LLC bought a new position in AppLovin in the 3rd quarter valued at approximately $29,000. Activest Wealth Management boosted its position in AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after buying an additional 38 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in AppLovin in the second quarter valued at approximately $33,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of AppLovin during the third quarter worth $33,000. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of a number of research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, February 12th. Morgan Stanley set a $720.00 price objective on AppLovin in a research report on Thursday, February 12th. Weiss Ratings downgraded AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Jefferies Financial Group cut their price target on AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, Scotiabank boosted their price target on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $668.20.

AppLovin Stock Performance

NASDAQ APP opened at $386.37 on Friday. The company has a market capitalization of $130.31 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 0.67 and a beta of 2.50. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The stock has a fifty day simple moving average of $440.12 and a 200 day simple moving average of $563.04.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business earned $1.73 EPS. The business’s quarterly revenue was up 66.0% compared to the same quarter last year. Sell-side analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 365,244 shares of company stock valued at $169,584,607 over the last ninety days. 13.66% of the stock is owned by company 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.