WD Rutherford LLC Buys 2,031 Shares of AppLovin Corporation $APP

WD Rutherford LLC boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 53.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,863 shares of the company’s stock after buying an additional 2,031 shares during the period. AppLovin makes up about 1.7% of WD Rutherford LLC’s holdings, making the stock its 28th largest holding. WD Rutherford LLC’s holdings in AppLovin were worth $3,951,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in APP. Board of the Pension Protection Fund purchased a new position in shares of AppLovin in the fourth quarter worth about $27,000. Washington Trust Advisors Inc. increased its holdings in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Chilton Capital Management LLC purchased a new position in AppLovin during the 3rd quarter valued at about $29,000. Activest Wealth Management boosted its position in shares of AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares in the last quarter. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $32,000. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of analyst reports. Arete Research set a $340.00 price target on AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Morgan Stanley set a $720.00 price objective on AppLovin in a research note on Thursday, February 12th. The Goldman Sachs Group reduced their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Finally, Wells Fargo & Company increased their price target on shares of AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One analyst has 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $664.35.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the transaction, the chief executive officer directly owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $501.00 on Monday. The firm has a market cap of $168.31 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 0.81 and a beta of 2.37. The firm’s 50 day simple moving average is $447.26 and its 200-day simple moving average is $528.32. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. 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 (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The business 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 quarterly revenue was up 58.9% compared to the same quarter last year. During the same period last year, the company posted $1.67 earnings per share. As a group, equities analysts predict that AppLovin Corporation will post 15.86 EPS for the current year.

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.