Woodward Diversified Capital LLC Makes New $1.13 Million Investment in AppLovin Corporation $APP

by · The Cerbat Gem

Woodward Diversified Capital LLC purchased a new stake in shares of AppLovin Corporation (NASDAQ:APP – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,571 shares of the company’s stock, valued at approximately $1,129,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of APP. Western Financial Corp CA lifted its holdings in AppLovin by 208.1% in the third quarter. Western Financial Corp CA now owns 5,256 shares of the company’s stock valued at $3,777,000 after acquiring an additional 3,550 shares during the period. Moss Adams Wealth Advisors LLC grew its stake in shares of AppLovin by 5.4% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 1,018 shares of the company’s stock valued at $731,000 after purchasing an additional 52 shares during the period. Clay Northam Wealth Management LLC purchased a new stake in shares of AppLovin during the 3rd quarter valued at about $320,000. Proffitt & Goodson Inc. lifted its stake in shares of AppLovin by 65.7% in the 3rd quarter. Proffitt & Goodson Inc. now owns 58 shares of the company’s stock worth $42,000 after purchasing an additional 23 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of AppLovin by 84.2% in the 3rd quarter. Global Retirement Partners LLC now owns 2,012 shares of the company’s stock worth $1,446,000 after purchasing an additional 920 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APP has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the company a “buy” rating in a report on Wednesday, October 22nd. Citigroup cut their price objective on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Wells Fargo & Company upped their price objective on AppLovin from $633.00 to $721.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. The Goldman Sachs Group raised their target price on AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Finally, Bank of America boosted their price target on AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $695.90.

Get Our Latest Analysis on APP

AppLovin Stock Down 8.2%

APP opened at $618.32 on Friday. The stock has a market cap of $208.96 billion, a price-to-earnings ratio of 75.04, a price-to-earnings-growth ratio of 2.04 and a beta of 2.50. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. The firm’s fifty day moving average is $639.23 and its 200 day moving average is $533.78. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned $1.29 earnings per share. The business’s quarterly revenue was up 68.2% on a year-over-year basis. On average, sell-side analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 4,069 shares of AppLovin stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $497.50, for a total transaction of $2,024,327.50. Following the sale, the chief executive officer owned 2,998,948 shares in the company, valued at $1,491,976,630. This trade represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the transaction, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. This represents a 0.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 340,336 shares of company stock worth $200,062,623 over the last quarter. Company insiders own 13.66% of the company’s stock.

AppLovin Profile

(Free Report)

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.

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