Stonebridge Financial Group LLC Takes $242,000 Position in AppLovin Corporation $APP

Stonebridge Financial Group LLC bought a new stake in shares of AppLovin Corporation (NASDAQ:APP) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 690 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds have also recently made changes to their positions in the business. IFP Advisors Inc raised its position in shares of AppLovin by 76.6% during the 2nd quarter. IFP Advisors Inc now owns 3,253 shares of the company’s stock valued at $1,148,000 after buying an additional 1,411 shares in the last quarter. Callan Family Office LLC raised its position in shares of AppLovin by 185.7% during the 2nd quarter. Callan Family Office LLC now owns 8,521 shares of the company’s stock valued at $2,983,000 after buying an additional 5,538 shares in the last quarter. Blair William & Co. IL raised its position in shares of AppLovin by 58.6% during the 2nd quarter. Blair William & Co. IL now owns 153,178 shares of the company’s stock valued at $53,624,000 after buying an additional 56,582 shares in the last quarter. Copperwynd Financial LLC raised its position in shares of AppLovin by 4.9% during the 2nd quarter. Copperwynd Financial LLC now owns 8,434 shares of the company’s stock valued at $2,953,000 after buying an additional 391 shares in the last quarter. Finally, Optas LLC raised its position in shares of AppLovin by 11.0% during the 2nd quarter. Optas LLC now owns 856 shares of the company’s stock valued at $300,000 after buying an additional 85 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

Shares of APP stock opened at $569.89 on Friday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market capitalization of $192.77 billion, a P/E ratio of 80.95, a P/E/G ratio of 3.26 and a beta of 2.53. The company’s 50-day simple moving average is $537.64 and its two-hundred day simple moving average is $400.57. AppLovin Corporation has a one year low of $139.40 and a one year high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director owned 7,283,292 shares in the company, valued at $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on APP shares. Citigroup upped their target price on shares of AppLovin from $600.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Scotiabank reissued an “outperform” rating on shares of AppLovin in a research report on Thursday, August 28th. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. BTIG Research increased their price objective on shares of AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Piper Sandler increased their price objective on shares of AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $597.38.

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.