Ameritas Advisory Services LLC Purchases 2,390 Shares of AppLovin Corporation $APP

Ameritas Advisory Services LLC boosted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 305.2% in the second quarter, Holdings Channel reports. The firm owned 3,173 shares of the company’s stock after acquiring an additional 2,390 shares during the period. Ameritas Advisory Services LLC’s holdings in AppLovin were worth $1,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in AppLovin during the second quarter worth approximately $253,000. Yeomans Consulting Group Inc. bought a new stake in AppLovin during the second quarter worth approximately $313,000. Hilltop National Bank bought a new stake in AppLovin during the second quarter worth approximately $26,000. J. Safra Sarasin Holding AG boosted its position in AppLovin by 66.5% during the second quarter. J. Safra Sarasin Holding AG now owns 2,146 shares of the company’s stock worth $751,000 after purchasing an additional 857 shares during the period. Finally, ASR Vermogensbeheer N.V. boosted its position in shares of AppLovin by 25.8% in the second quarter. ASR Vermogensbeheer N.V. now owns 21,895 shares of the company’s stock valued at $7,664,000 after acquiring an additional 4,490 shares during the period. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on APP shares. Piper Sandler increased their price objective on AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Scotiabank reiterated an “outperform” rating on shares of AppLovin in a research note on Thursday, August 28th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. Oppenheimer increased their price objective on AppLovin from $500.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. Finally, UBS Group increased their price objective on AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $578.86.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the sale, the chief technology officer owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 26,200 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $440.23, for a total value of $11,534,026.00. Following the completion of the transaction, the chief executive officer owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock worth $514,863,333 over the last ninety days. Company insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of APP stock opened at $682.76 on Friday. The stock’s fifty day moving average is $514.58 and its 200-day moving average is $391.46. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market capitalization of $230.94 billion, a PE ratio of 96.98, a PEG ratio of 3.74 and a beta of 2.53. AppLovin Corporation has a 52 week low of $135.50 and a 52 week high of $745.61.

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

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.