Applied Finance Capital Management LLC Takes $1.55 Million Position in AppLovin Corporation $APP

Applied Finance Capital Management LLC acquired a new position in AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, HoldingsChannel reports. The firm acquired 4,432 shares of the company’s stock, valued at approximately $1,552,000.

A number of other large investors have also recently modified their holdings of APP. Atala Financial Inc bought a new stake in AppLovin during the 1st quarter valued at approximately $26,000. Hilltop National Bank bought a new stake in shares of AppLovin in the 2nd quarter worth approximately $26,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin in the 1st quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new position in AppLovin during the 1st quarter valued at approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in AppLovin during the first quarter valued at $29,000. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In other news, insider Victoria Valenzuela sold 35,000 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total value of $17,578,050.00. Following the transaction, the insider directly owned 269,955 shares in the company, valued at $135,579,499.65. This trade represents a 11.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the sale, the chief executive officer owned 2,620,054 shares of the company’s stock, valued at approximately $1,103,147,536.16. This trade represents a 3.32% decrease in their position. 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. Insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $605.68 on Friday. The firm’s 50-day moving average price is $553.38 and its 200-day moving average price is $409.27. AppLovin Corporation has a 52-week low of $141.35 and a 52-week high of $745.61. The company has a market cap of $204.87 billion, a PE ratio of 86.03, a PEG ratio of 3.27 and a beta of 2.53. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

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

Analysts Set New Price Targets

A number of research firms have recently commented on APP. Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Benchmark lifted their price target on AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Piper Sandler increased their price objective on shares of AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Scotiabank reaffirmed an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $630.00 price target on shares of AppLovin in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $600.59.

AppLovin 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.