SMART Wealth LLC Invests $2.52 Million in AppLovin Corporation $APP

SMART Wealth LLC purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,738 shares of the company’s stock, valued at approximately $2,519,000.

A number of other hedge funds also recently modified their holdings of APP. Vanguard Group Inc. raised its position in shares of AppLovin by 39.4% during the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after purchasing an additional 7,051,663 shares during the period. State Street Corp raised its position in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares during the period. Rakuten Investment Management Inc. acquired a new stake in shares of AppLovin during the third quarter worth about $1,456,108,000. Jennison Associates LLC raised its position in shares of AppLovin by 55.2% during the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock worth $2,792,355,000 after purchasing an additional 1,381,970 shares during the period. Finally, Capital Research Global Investors acquired a new stake in shares of AppLovin during the third quarter worth about $743,899,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $650.00 price target (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Oppenheimer dropped their price target on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. BTIG Research dropped their price target on AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Friday, March 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $700.00 target price on shares of AppLovin in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $661.95.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their position. 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 that occurred 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 transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock valued at $169,584,607 in the last 90 days. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Up 2.4%

Shares of AppLovin stock opened at $477.20 on Friday. The business’s 50 day simple moving average is $429.44 and its 200 day simple moving average is $547.78. AppLovin Corporation has a 52-week low of $222.02 and a 52-week high of $745.61. The firm has a market cap of $160.95 billion, a PE ratio of 48.94, a P/E/G ratio of 0.81 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 (NASDAQ:APP) last announced its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.61 billion. During the same quarter last year, the firm earned $1.73 EPS. AppLovin’s revenue for the quarter was up 66.0% compared to the same quarter last year. On average, analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal 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.