Beese Fulmer Investment Management Inc. Has $2.16 Million Stock Holdings in AppLovin Corporation $APP

Beese Fulmer Investment Management Inc. raised its stake in AppLovin Corporation (NASDAQ:APP) by 63.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,208 shares of the company’s stock after purchasing an additional 1,251 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in AppLovin were worth $2,162,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in APP. CBIZ Investment Advisory Services LLC increased its position in shares of AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its position in shares of AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after purchasing an additional 18 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of AppLovin by 5.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares in the last quarter. Claro Advisors LLC increased its position in shares of AppLovin by 3.2% during the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after purchasing an additional 20 shares in the last quarter. Finally, Strategic Advocates LLC increased its position in shares of AppLovin by 0.8% during the 3rd quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock worth $1,851,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Oppenheimer lowered their price objective 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. The Goldman Sachs Group lowered their price objective on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Wedbush restated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Benchmark restated a “buy” rating on shares of AppLovin in a research report on Friday, March 6th. Finally, Scotiabank raised their price objective on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $664.35.

AppLovin Trading Up 3.3%

APP opened at $501.00 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $168.31 billion, a PE ratio of 43.04, a PEG ratio of 0.81 and a beta of 2.37. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The firm has a 50-day moving average price of $447.26 and a two-hundred day moving average price of $529.13.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares of the company’s stock, valued at approximately $1,583,462,445.39. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is currently owned by insiders.

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.