AppLovin Corporation $APP Shares Bought by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC raised its position in AppLovin Corporation (NASDAQ:APP) by 6.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,006 shares of the company’s stock after purchasing an additional 58 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in AppLovin were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in APP. Revolve Wealth Partners LLC bought a new position in shares of AppLovin in the fourth quarter valued at approximately $294,000. Bison Wealth LLC bought a new stake in AppLovin during the fourth quarter worth approximately $239,000. Golden State Wealth Management LLC boosted its holdings in AppLovin by 6,600.0% during the first quarter. Golden State Wealth Management LLC now owns 201 shares of the company’s stock worth $53,000 after buying an additional 198 shares in the last quarter. Diversified Trust Co boosted its holdings in AppLovin by 1.2% during the first quarter. Diversified Trust Co now owns 5,093 shares of the company’s stock worth $1,349,000 after buying an additional 59 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in AppLovin during the first quarter worth approximately $29,000. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APP. Weiss Ratings cut shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. BTIG Research raised their target price on shares of AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Wall Street Zen lowered shares of AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Jefferies Financial Group raised their price objective on shares of AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. 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-one have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $605.13.

AppLovin Stock Up 5.1%

APP stock opened at $620.00 on Friday. AppLovin Corporation has a 12-month low of $158.33 and a 12-month 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 company has a market cap of $209.72 billion, a price-to-earnings ratio of 88.07, a PEG ratio of 3.37 and a beta of 2.53. The company has a 50 day moving average of $569.09 and a two-hundred day moving average of $424.16.

AppLovin (NASDAQ:APP) last released its earnings results 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. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The company’s revenue was up 77.1% compared to the same quarter last year. On average, equities analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 350 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $487.97, for a total value of $170,789.50. Following the completion of the sale, the director owned 3,150 shares in the company, valued at $1,537,105.50. This represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares of the company’s stock, valued at approximately $135,579,499.65. The trade was a 11.48% 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 owned by corporate insiders.

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.