DeDora Capital Inc. Boosts Stake in AppLovin Co. (NASDAQ:APP)

DeDora Capital Inc. grew its stake in shares of AppLovin Co. (NASDAQ:APP) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,596 shares of the company’s stock after buying an additional 166 shares during the period. DeDora Capital Inc.’s holdings in AppLovin were worth $664,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AppLovin by 39.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,563 shares of the company’s stock valued at $4,746,000 after acquiring an additional 19,381 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in AppLovin in the 1st quarter valued at about $146,000. Atlas Capital Advisors LLC purchased a new position in AppLovin in the 1st quarter valued at about $38,000. Annex Advisory Services LLC purchased a new position in AppLovin in the 1st quarter valued at about $11,645,000. Finally, Steph & Co. purchased a new position in AppLovin in the 1st quarter valued at about $92,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. BTIG Research upped their target price on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Oppenheimer upped their target price on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, April 8th. TheStreet upgraded shares of AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. Stifel Nicolaus upped their target price on shares of AppLovin from $65.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Morgan Stanley increased their price objective on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.60.

AppLovin Trading Up 3.6 %

APP traded up $2.60 on Friday, reaching $75.07. 2,974,643 shares of the company’s stock were exchanged, compared to its average volume of 3,375,075. The company’s 50 day moving average is $68.59 and its 200-day moving average is $51.10. The company has a market cap of $25.67 billion, a price-to-earnings ratio of 75.07, a PEG ratio of 1.44 and a beta of 1.85. AppLovin Co. has a twelve month low of $16.56 and a twelve month high of $79.55. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm had revenue of $953.26 million during the quarter, compared to the consensus estimate of $928.66 million. During the same quarter in the prior year, the company earned ($0.21) EPS. The company’s revenue was up 35.7% on a year-over-year basis. Equities analysts predict that AppLovin Co. will post 2.52 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 2,775 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the sale, the chief financial officer now owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the transaction, the director now directly owns 12,739 shares in the company, valued at approximately $743,065.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Matthew Stumpf sold 2,775 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The disclosure for this sale can be found here. Insiders sold 61,215 shares of company stock valued at $4,416,815 over the last 90 days. 12.43% of the stock is owned by corporate insiders.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.