WD Rutherford LLC Purchases 1,160 Shares of AppLovin Corporation $APP

WD Rutherford LLC grew its holdings in AppLovin Corporation (NASDAQ:APP) by 19.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,023 shares of the company’s stock after purchasing an additional 1,160 shares during the quarter. WD Rutherford LLC’s holdings in AppLovin were worth $2,795,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in APP. Washington Trust Advisors Inc. grew its stake in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in AppLovin during the 4th quarter valued at $27,000. Mcguire Capital Advisors Inc. bought a new stake in AppLovin in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC acquired a new stake in AppLovin in the 4th quarter worth $32,000. Finally, Graney & King LLC acquired a new stake in AppLovin in the 3rd quarter worth $36,000. 41.85% of the stock is currently owned by institutional investors.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the sale, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the transaction, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is currently owned by insiders.

AppLovin Price Performance

AppLovin stock opened at $564.61 on Thursday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $189.68 billion, a P/E ratio of 48.51, a P/E/G ratio of 0.83 and a beta of 2.49. The business’s fifty day moving average is $499.89 and its two-hundred day moving average is $505.63. AppLovin Corporation has a 52 week low of $325.58 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company posted $1.67 earnings per share. The firm’s quarterly revenue was up 58.9% compared to the same quarter last year. Equities research analysts forecast that AppLovin Corporation will post 15.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. JPMorgan Chase & Co. increased their price objective on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Benchmark restated a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, BTIG Research reiterated a “buy” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $668.27.

AppLovin Company 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.