CFO4Life Group LLC Makes New $696,000 Investment in AppLovin Co. (NASDAQ:APP)

CFO4Life Group LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the 1st quarter, HoldingsChannel.com reports. The fund bought 10,058 shares of the company’s stock, valued at approximately $696,000.

Other large investors also recently bought and sold shares of the company. Gulf International Bank UK Ltd acquired a new stake in shares of AppLovin in the first quarter worth $1,131,000. CWM LLC increased its stake in shares of AppLovin by 16.3% in the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock worth $114,000 after acquiring an additional 401 shares during the period. Contrarius Investment Management Ltd acquired a new stake in shares of AppLovin in the fourth quarter worth $7,334,000. Allspring Global Investments Holdings LLC increased its stake in shares of AppLovin by 177.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 340,823 shares of the company’s stock worth $23,592,000 after acquiring an additional 217,887 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of AppLovin in the fourth quarter worth $2,284,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 147,984 shares of AppLovin stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.29, for a total value of $12,177,603.36. Following the completion of the transaction, the chief marketing officer now owns 1,264,284 shares in the company, valued at $104,037,930.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Katie Kihorany Jansen sold 147,984 shares of AppLovin stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.29, for a total value of $12,177,603.36. Following the completion of the transaction, the chief marketing officer now owns 1,264,284 shares in the company, valued at $104,037,930.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the sale, the insider now owns 366,567 shares of the company’s stock, valued at approximately $30,557,025.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,857,726 shares of company stock worth $1,489,251,374. Corporate insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on APP shares. Oppenheimer reiterated an “outperform” rating and issued a $97.00 price objective on shares of AppLovin in a research note on Thursday, June 13th. Daiwa Capital Markets began coverage on shares of AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 price target on the stock. Stifel Nicolaus raised their price target on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. Finally, Morgan Stanley raised their price target on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $71.72.

AppLovin Trading Up 3.5 %

APP stock traded up $2.90 during trading on Friday, reaching $84.91. 1,135,055 shares of the stock were exchanged, compared to its average volume of 4,226,721. AppLovin Co. has a 1 year low of $27.32 and a 1 year high of $91.91. The firm has a market capitalization of $27.94 billion, a price-to-earnings ratio of 49.83, a P/E/G ratio of 1.43 and a beta of 1.86. The business has a 50 day moving average price of $81.70 and a 200-day moving average price of $65.70. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. During the same period last year, the business earned ($0.01) earnings per share. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, research analysts predict that AppLovin Co. will post 2.96 earnings per share for the current year.

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.