CPC Advisors LLC Sells 2,039 Shares of AppLovin Corporation $APP

CPC Advisors LLC reduced its holdings in AppLovin Corporation (NASDAQ:APP) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,423 shares of the company’s stock after selling 2,039 shares during the quarter. CPC Advisors LLC’s holdings in AppLovin were worth $6,349,000 at the end of the most recent quarter.

Several other hedge funds 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 fourth quarter valued at approximately $27,000. Chilton Capital Management LLC bought a new stake in shares of AppLovin during the third quarter valued at approximately $29,000. Activest Wealth Management boosted its position in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares in the last quarter. Finally, Bogart Wealth LLC boosted its position in shares of AppLovin by 100.0% during the third quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock valued at $34,000 after purchasing an additional 24 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at $1,155,972,140.56. This represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 365,244 shares of company stock worth $169,584,607 over the last quarter. 13.66% of the stock is currently owned by insiders.

AppLovin Trading Down 3.6%

AppLovin stock opened at $473.18 on Wednesday. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The business’s fifty day simple moving average is $430.05 and its two-hundred day simple moving average is $542.65. AppLovin Corporation has a 12 month low of $227.05 and a 12 month high of $745.61. The company has a market capitalization of $159.59 billion, a price-to-earnings ratio of 48.53, a price-to-earnings-growth ratio of 0.85 and a beta of 2.50.

AppLovin (NASDAQ:APP) last released 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 business 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 company posted $1.73 earnings per share. The company’s revenue for the quarter was up 66.0% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Corporation will post 15.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on APP. UBS Group set a $740.00 price target on AppLovin in a research report on Thursday, February 12th. Citigroup dropped their target price on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 target price on shares of AppLovin in a report on Wednesday, March 11th. Wells Fargo & Company boosted their target price on AppLovin from $543.00 to $560.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $661.95.

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.