AppLovin Corporation $APP Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its stake in AppLovin Corporation (NASDAQ:APP) by 10.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,530 shares of the company’s stock after buying an additional 2,400 shares during the quarter. Wealthfront Advisers LLC’s holdings in AppLovin were worth $8,587,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of APP. Atlatl Advisers LLC acquired a new stake in shares of AppLovin during the second quarter worth about $1,285,000. Darden Wealth Group Inc acquired a new stake in shares of AppLovin during the second quarter worth about $1,235,000. Linden Thomas Advisory Services LLC lifted its position in shares of AppLovin by 2.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 21,042 shares of the company’s stock worth $7,366,000 after purchasing an additional 551 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in shares of AppLovin during the second quarter worth about $429,000. Finally, AG2R LA Mondiale Gestion D Actifs lifted its position in shares of AppLovin by 8.4% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 8,731 shares of the company’s stock worth $3,057,000 after purchasing an additional 679 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APP. Wedbush increased their price target on shares of AppLovin from $725.00 to $745.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings lowered shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Scotiabank restated an “outperform” rating on shares of AppLovin in a research note on Thursday, August 28th. Finally, Wells Fargo & Company upped their target price on shares of AppLovin from $491.00 to $633.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $605.13.

Insider Buying and Selling

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $432.49, for a total value of $86,498,000.00. Following the completion of the sale, the director directly owned 181,929 shares of the company’s stock, valued at approximately $78,682,473.21. This represents a 52.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the sale, the insider directly owned 269,955 shares of the company’s stock, valued at $135,579,499.65. The trade was a 11.48% 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 over the last three months. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Performance

Shares of AppLovin stock opened at $643.10 on Tuesday. The firm has a market capitalization of $217.53 billion, a P/E ratio of 91.35, a P/E/G ratio of 3.37 and a beta of 2.53. AppLovin Corporation has a 52 week low of $158.33 and a 52 week high of $745.61. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm’s 50 day moving average is $573.18 and its two-hundred day moving average is $427.78.

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