AppLovin Corporation $APP Shares Acquired by PVG Asset Management Corp

PVG Asset Management Corp lifted its position in shares of AppLovin Corporation (NASDAQ:APP) by 275.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,036 shares of the company’s stock after purchasing an additional 2,227 shares during the period. PVG Asset Management Corp’s holdings in AppLovin were worth $1,208,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of APP. Washington Trust Advisors Inc. raised its stake in AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of AppLovin during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of AppLovin during the 4th quarter worth about $32,000. Osbon Capital Management LLC purchased a new position in shares of AppLovin in the 4th quarter valued at about $36,000. Finally, Dogwood Wealth Management LLC increased its holdings in shares of AppLovin by 84.4% in the 4th quarter. Dogwood Wealth Management LLC now owns 59 shares of the company’s stock valued at $40,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is owned by insiders.

AppLovin Price Performance

AppLovin stock opened at $395.90 on Monday. The company has a market capitalization of $133.00 billion, a P/E ratio of 34.01, a PEG ratio of 0.65 and a beta of 2.54. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a fifty-two week low of $359.00 and a fifty-two week high of $745.61. The stock has a 50-day simple moving average of $491.19 and a 200-day simple moving average of $470.96.

AppLovin (NASDAQ:APP) last released its quarterly 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. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 EPS. Equities research analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current year.

Analyst Ratings Changes

APP has been the subject of several recent analyst reports. Citigroup restated a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. KeyCorp set a $775.00 price target on shares of AppLovin in a research note on Wednesday, June 10th. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Wedbush restated an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $668.45.

About AppLovin

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.