Howard Capital Management Inc. Has $4.17 Million Position in AppLovin Corporation $APP

Howard Capital Management Inc. raised its stake in shares of AppLovin Corporation (NASDAQ:APP) by 68.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,195 shares of the company’s stock after buying an additional 2,520 shares during the period. Howard Capital Management Inc.’s holdings in AppLovin were worth $4,174,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lazard Freres Gestion S.A.S. acquired a new stake in shares of AppLovin during the 3rd quarter valued at $2,514,000. Mediolanum International Funds Ltd lifted its stake in shares of AppLovin by 73.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after purchasing an additional 32,510 shares during the last quarter. Thames Capital Management LLC lifted its stake in shares of AppLovin by 114.8% in the 3rd quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock valued at $12,001,000 after purchasing an additional 8,925 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of AppLovin by 14.8% in the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after purchasing an additional 15,074 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of AppLovin by 131.7% in the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APP. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. BTIG Research reduced their price objective on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Citigroup reduced their price objective on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $650.00 target price (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $669.05.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the company’s stock in a transaction dated 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 transaction, the chief technology officer directly owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. This represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 365,244 shares of company stock valued at $169,584,607. Insiders own 13.66% of the company’s stock.

AppLovin Stock Up 3.2%

Shares of APP opened at $391.45 on Friday. The company has a 50-day simple moving average of $426.55 and a 200-day simple moving average of $555.12. The firm has a market capitalization of $132.03 billion, a P/E ratio of 40.15, a P/E/G ratio of 0.66 and a beta of 2.50. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. AppLovin Corporation has a 52 week low of $222.02 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS 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 net margin of 57.42% and a return on equity of 245.64%. The firm’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, equities research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.