AppLovin Corporation $APP Shares Acquired by Aberdeen Group plc

Aberdeen Group plc raised its stake in AppLovin Corporation (NASDAQ:APP) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,187 shares of the company’s stock after acquiring an additional 5,058 shares during the period. Aberdeen Group plc’s holdings in AppLovin were worth $45,272,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Board of the Pension Protection Fund bought a new position in AppLovin in the 4th quarter worth approximately $27,000. Chilton Capital Management LLC bought a new stake in AppLovin during the 3rd quarter valued at $29,000. Activest Wealth Management raised its stake in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in AppLovin during the 2nd quarter worth $33,000. Finally, Heartwood Wealth Advisors LLC acquired a new position in AppLovin during the 3rd quarter worth $33,000. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

Shares of AppLovin stock opened at $386.37 on Friday. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61. The firm has a market capitalization of $130.31 billion, a PE ratio of 39.63, a price-to-earnings-growth 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. The stock’s fifty day moving average is $440.12 and its 200-day moving average is $562.75.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.AppLovin’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same quarter last year, the company posted $1.73 EPS. Equities analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the sale, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This represents a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 over the last ninety days. 13.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research analyst reports. Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Morgan Stanley set a $720.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Finally, Jefferies Financial Group decreased their price objective on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $668.20.

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.