Patriot Financial Group Insurance Agency LLC Invests $984,000 in AppLovin Corporation $APP

Patriot Financial Group Insurance Agency LLC bought a new position in AppLovin Corporation (NASDAQ:APP) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,460 shares of the company’s stock, valued at approximately $984,000.

Several other institutional investors also recently added to or reduced their stakes in APP. Revolve Wealth Partners LLC bought a new position in AppLovin during the fourth quarter valued at about $294,000. Bison Wealth LLC bought a new position in AppLovin during the fourth quarter valued at about $239,000. Integrated Wealth Concepts LLC grew its position in AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after buying an additional 621 shares during the period. NewEdge Advisors LLC grew its position in AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after buying an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after buying an additional 9,380 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 40,704 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $459.85, for a total value of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at approximately $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on APP. Wells Fargo & Company increased their price target on shares of AppLovin from $543.00 to $560.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. Evercore restated a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. BTIG Research reduced their price target on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. UBS Group set a $740.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Finally, Oppenheimer reduced their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $661.95.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $477.20 on Friday. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $160.95 billion, a PE ratio of 48.94, a P/E/G ratio of 0.81 and a beta of 2.50. AppLovin Corporation has a twelve month low of $222.02 and a twelve month high of $745.61. The company has a 50-day moving average price of $429.44 and a two-hundred day moving average price of $546.59.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $1.73 earnings per share. The company’s quarterly revenue was up 66.0% on a year-over-year basis. Equities analysts forecast that AppLovin Corporation will post 6.87 EPS 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.