AppLovin Corporation $APP Shares Bought by WCM Investment Management LLC

WCM Investment Management LLC increased its stake in AppLovin Corporation (NASDAQ:APP) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,001,600 shares of the company’s stock after acquiring an additional 245,290 shares during the period. AppLovin makes up approximately 4.2% of WCM Investment Management LLC’s investment portfolio, making the stock its 4th biggest position. WCM Investment Management LLC’s holdings in AppLovin were worth $1,860,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in APP. KBC Group NV lifted its position in AppLovin by 2.1% in the first quarter. KBC Group NV now owns 255,447 shares of the company’s stock worth $101,667,000 after purchasing an additional 5,223 shares during the period. SEB Asset Management AB acquired a new position in shares of AppLovin during the 1st quarter valued at $27,214,000. Swiss National Bank raised its stake in shares of AppLovin by 7.1% in the 1st quarter. Swiss National Bank now owns 677,030 shares of the company’s stock worth $269,458,000 after buying an additional 44,720 shares in the last quarter. IMA Advisory Services Inc. raised its stake in shares of AppLovin by 40.0% in the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after buying an additional 24 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of AppLovin by 5.2% in the first quarter. California Public Employees Retirement System now owns 488,574 shares of the company’s stock valued at $194,452,000 after buying an additional 24,004 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 393,000 shares of company stock worth $197,297,363. 13.66% of the stock is owned by company insiders.

AppLovin Stock Performance

APP opened at $424.54 on Monday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a market cap of $142.62 billion, a PE ratio of 36.47, a P/E/G ratio of 0.69 and a beta of 2.49. The business has a fifty day simple moving average of $506.01 and a 200-day simple moving average of $487.71. AppLovin Corporation has a fifty-two week low of $343.00 and a fifty-two 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 (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on APP. KeyCorp set a $775.00 target price on AppLovin in a research note on Wednesday, June 10th. Wedbush reissued an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Argus started coverage on shares of AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective for the company. Benchmark restated a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $668.45.

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.