Yousif Capital Management LLC Buys 25,579 Shares of AppLovin Corporation $APP

Yousif Capital Management LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 800.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,774 shares of the company’s stock after acquiring an additional 25,579 shares during the quarter. Yousif Capital Management LLC’s holdings in AppLovin were worth $20,675,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of APP. Vanguard Group Inc. grew its position in AppLovin by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company’s stock valued at $6,267,410,000 after purchasing an additional 72,120 shares during the last quarter. State Street Corp lifted its stake in shares of AppLovin by 2.4% in the second quarter. State Street Corp now owns 5,615,415 shares of the company’s stock worth $1,965,844,000 after buying an additional 133,402 shares in the last quarter. Kensico Capital Management Corp grew its holdings in shares of AppLovin by 12.9% during the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock valued at $762,849,000 after buying an additional 328,000 shares during the last quarter. Fred Alger Management LLC increased its position in shares of AppLovin by 12.0% during the first quarter. Fred Alger Management LLC now owns 2,833,792 shares of the company’s stock valued at $750,870,000 after acquiring an additional 303,063 shares in the last quarter. Finally, Norges Bank purchased a new position in AppLovin in the 2nd quarter worth approximately $951,541,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 1.7%

AppLovin stock opened at $733.60 on Tuesday. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The company has a market cap of $247.92 billion, a P/E ratio of 89.03, a P/E/G ratio of 3.87 and a beta of 2.51. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The business has a 50-day simple moving average of $619.97 and a two-hundred day simple moving average of $514.94.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.11. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 EPS. Analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction on Friday, November 21st. The shares were sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the transaction, the chief executive officer owned 2,553,161 shares in the company, valued at $1,328,384,136.69. This trade represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 150,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $650.91, for a total value of $97,636,500.00. Following the completion of the sale, the director owned 7,133,292 shares of the company’s stock, valued at $4,643,131,095.72. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 340,336 shares of company stock worth $200,062,623. Company insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on APP. Bank of America increased their target price on AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Wedbush increased 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. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Tuesday, August 26th. Jefferies Financial Group upped their target price on shares of AppLovin from $800.00 to $860.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, UBS Group reaffirmed a “buy” rating and set a $775.00 price target on shares of AppLovin in a report on Thursday, December 11th. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $695.90.

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.