Aberdeen Group plc Buys 7,001 Shares of AppLovin Corporation $APP

Aberdeen Group plc grew its position in AppLovin Corporation (NASDAQ:APPFree Report) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,180 shares of the company’s stock after purchasing an additional 7,001 shares during the quarter. Aberdeen Group plc’s holdings in AppLovin were worth $39,972,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in APP. Atala Financial Inc acquired a new stake in shares of AppLovin during the 1st quarter worth approximately $26,000. Hilltop National Bank bought a new stake in AppLovin in the second quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in AppLovin in the 1st quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new position in AppLovin during the 1st quarter worth approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in AppLovin in the first quarter valued at approximately $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APP has been the subject of a number of analyst reports. Citigroup increased their price target on AppLovin from $600.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Bank of America boosted their price objective on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Scotiabank reissued an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. Wall Street Zen cut shares of AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company set a $860.00 price objective on shares of AppLovin in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $597.38.

View Our Latest Stock Analysis on AppLovin

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 350 shares of AppLovin stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $487.97, for a total transaction of $170,789.50. Following the transaction, the director directly owned 3,150 shares of the company’s stock, valued at $1,537,105.50. The trade was a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction that occurred on 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 owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock valued at $514,863,333 in the last ninety days. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Down 5.1%

AppLovin stock opened at $569.89 on Monday. The company has a market capitalization of $192.77 billion, a price-to-earnings ratio of 80.95, a price-to-earnings-growth ratio of 3.09 and a beta of 2.53. The business’s fifty day simple moving average is $537.64 and its two-hundred day simple moving average is $402.05. AppLovin Corporation has a 12 month low of $139.40 and a 12 month high of $745.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APPGet Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company earned $0.89 EPS. AppLovin’s revenue for the quarter was up 77.1% on a year-over-year basis. As a group, equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

About AppLovin

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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