Inspire Investing LLC Buys 5,965 Shares of AppLovin Corporation $APP

Inspire Investing LLC lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 74.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,965 shares of the company’s stock after purchasing an additional 5,965 shares during the period. Inspire Investing LLC’s holdings in AppLovin were worth $4,889,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in APP. Dynasty Wealth Management LLC grew its holdings in shares of AppLovin by 117,664.4% during the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock worth $716,133,000 after purchasing an additional 2,700,399 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of AppLovin by 86.5% during the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company’s stock worth $632,478,000 after purchasing an additional 1,107,104 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the completion of the transaction, the director directly owned 181,929 shares in the company, valued at approximately $78,682,473.21. This trade represents a 52.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company’s stock, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock valued at $514,863,333 in the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Trading Down 5.1%

NASDAQ APP opened at $569.89 on Friday. The firm has a market cap of $192.77 billion, a P/E ratio of 80.95, a P/E/G ratio of 3.26 and a beta of 2.53. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The stock’s 50-day moving average is $537.64 and its 200-day moving average is $400.57. AppLovin Corporation has a one year low of $139.40 and a one year high of $745.61.

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

Analysts Set New Price Targets

Several brokerages have recently commented on APP. Benchmark increased their target price on AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Wall Street Zen lowered AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppLovin in a research note on Wednesday. Phillip Securities raised AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $597.38.

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.