AppLovin Corporation $APP Shares Bought by Dakota Wealth Management

Dakota Wealth Management raised its holdings in AppLovin Corporation (NASDAQ:APP) by 14.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,055 shares of the company’s stock after purchasing an additional 2,969 shares during the period. Dakota Wealth Management’s holdings in AppLovin were worth $16,566,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after buying an additional 7,051,663 shares in the last quarter. Norges Bank purchased a new position in AppLovin during the second quarter worth $951,541,000. Rakuten Investment Management Inc. acquired a new position in shares of AppLovin in the third quarter worth $1,456,108,000. Jennison Associates LLC lifted its position in shares of AppLovin by 55.2% in the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after acquiring an additional 1,381,970 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of AppLovin by 51.0% during the third quarter. Bank of New York Mellon Corp now owns 1,493,494 shares of the company’s stock valued at $1,073,135,000 after acquiring an additional 504,341 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 150 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the sale, the director directly owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. This trade represents a 5.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on APP shares. UBS Group set a $740.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Piper Sandler reiterated an “overweight” rating and set a $650.00 price target (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Wedbush raised their target price on shares of AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Jefferies Financial Group cut their price target on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Twenty-one equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $651.77.

AppLovin Stock Performance

NASDAQ:APP opened at $380.62 on Tuesday. The company has a market cap of $128.63 billion, a P/E ratio of 39.04, a P/E/G ratio of 0.86 and a beta of 2.49. The firm’s 50 day moving average is $560.57 and its two-hundred day moving average is $573.34. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61. 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 (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The business’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 EPS. Analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin Company 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.