Strategic Advocates LLC Takes $516,000 Position in AppLovin Co. (NASDAQ:APP)

Strategic Advocates LLC bought a new position in shares of AppLovin Co. (NASDAQ:APPFree Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,459 shares of the company’s stock, valued at approximately $516,000.

A number of other large investors have also recently bought and sold shares of APP. FinTrust Capital Advisors LLC acquired a new stake in AppLovin during the 4th quarter worth about $32,000. Quarry LP acquired a new stake in AppLovin during the fourth quarter worth about $44,000. GAMMA Investing LLC purchased a new position in AppLovin during the fourth quarter valued at approximately $47,000. Lindbrook Capital LLC lifted its holdings in AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock valued at $53,000 after acquiring an additional 281 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in AppLovin in the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total transaction of $235,159.30. Following the transaction, the insider now directly owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the sale, the insider now owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary Margaret Hasti Georgiadis sold 6,990 shares of AppLovin stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $83.89, for a total value of $586,391.10. Following the completion of the sale, the director now owns 34,178 shares in the company, valued at approximately $2,867,192.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,741,886 shares of company stock valued at $1,478,219,330. 14.69% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on APP. The Goldman Sachs Group boosted their target price on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Oppenheimer reissued an “outperform” rating and set a $97.00 target price on shares of AppLovin in a research note on Thursday, June 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, May 9th. Citigroup increased their price target on AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group boosted their price objective on AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $71.72.

Get Our Latest Report on APP

AppLovin Price Performance

Shares of AppLovin stock traded up $2.38 on Tuesday, hitting $80.84. 4,368,476 shares of the company were exchanged, compared to its average volume of 4,297,388. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The company has a 50-day moving average price of $77.81 and a 200 day moving average price of $60.54. The stock has a market capitalization of $26.60 billion, a price-to-earnings ratio of 48.11, a price-to-earnings-growth ratio of 1.31 and a beta of 1.88. AppLovin Co. has a 1-year low of $22.85 and a 1-year high of $88.50.

AppLovin (NASDAQ:APPGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

AppLovin Company Profile

(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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