Blair William & Co. IL Grows Position in AppLovin Corporation $APP

Blair William & Co. IL increased its holdings in AppLovin Corporation (NASDAQ:APP) by 58.6% in the second quarter, Holdings Channel reports. The fund owned 153,178 shares of the company’s stock after purchasing an additional 56,582 shares during the quarter. Blair William & Co. IL’s holdings in AppLovin were worth $53,624,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

APP has been the subject of several analyst reports. Oppenheimer set a $740.00 price target on shares of AppLovin in a research report on Tuesday. Wall Street Zen lowered shares of AppLovin from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Tuesday, August 26th. Morgan Stanley increased their price objective on shares of AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, Wells Fargo & Company set a $860.00 price objective on shares of AppLovin in a research report on Wednesday. One 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 issued a Sell rating to the company. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $597.38.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $432.49, for a total value of $86,498,000.00. Following the transaction, the director owned 181,929 shares in the company, valued at approximately $78,682,473.21. This represents a 52.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares in the company, 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. Insiders have sold 1,156,788 shares of company stock worth $514,863,333 in the last quarter. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $600.32 on Friday. AppLovin Corporation has a twelve month low of $139.40 and a twelve month high of $745.61. The company’s 50 day moving average is $533.82 and its 200 day moving average is $399.03. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market cap of $203.06 billion, a PE ratio of 85.27, a price-to-earnings-growth ratio of 3.45 and a beta of 2.53.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate 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 company earned $0.89 EPS. AppLovin’s quarterly revenue was up 77.1% on a year-over-year basis. On average, sell-side analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin Company 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.