AppLovin Corporation (NASDAQ:APP) Stock Holdings Lifted by Praxis Investment Management Inc.

Praxis Investment Management Inc. raised its stake in AppLovin Corporation (NASDAQ:APP) by 27.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,140 shares of the company’s stock after acquiring an additional 1,540 shares during the period. Praxis Investment Management Inc.’s holdings in AppLovin were worth $1,892,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. World Equity Group Inc. bought a new position in shares of AppLovin in the first quarter valued at $286,000. GAM Holding AG raised its stake in AppLovin by 47.1% during the 1st quarter. GAM Holding AG now owns 5,195 shares of the company’s stock valued at $1,377,000 after purchasing an additional 1,663 shares during the period. Stonegate Investment Group LLC raised its stake in AppLovin by 45.4% during the 1st quarter. Stonegate Investment Group LLC now owns 1,201 shares of the company’s stock valued at $318,000 after purchasing an additional 375 shares during the period. Advisor Resource Council acquired a new stake in AppLovin during the 1st quarter valued at $1,224,000. Finally, ORG Wealth Partners LLC acquired a new stake in AppLovin during the 1st quarter valued at $29,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 5.7%

AppLovin stock opened at $324.70 on Friday. The company’s fifty day simple moving average is $333.20 and its 200-day simple moving average is $334.44. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a 12 month low of $60.67 and a 12 month high of $525.15. The stock has a market cap of $109.88 billion, a P/E ratio of 58.61, a P/E/G ratio of 2.00 and a beta of 2.53.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. As a group, sell-side analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Craig Scott Billings sold 12,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $353.12, for a total transaction of $4,237,440.00. Following the transaction, the director now directly owns 2,987 shares of the company’s stock, valued at $1,054,769.44. This represents a 80.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew Stumpf sold 9,714 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the transaction, the chief financial officer now directly owns 192,421 shares in the company, valued at $81,394,083. The trade was a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock valued at $455,062,980 over the last three months. 13.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on APP shares. Benchmark reissued a “buy” rating and set a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. HSBC set a $436.00 target price on shares of AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Wednesday, May 28th. Morgan Stanley boosted their target price on shares of AppLovin from $420.00 to $460.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $355.00 to $400.00 and gave the company a “neutral” rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $438.10.

AppLovin Company Profile

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.