Centaurus Financial Inc. Raises Position in AppLovin Corporation $APP

Centaurus Financial Inc. grew its stake in AppLovin Corporation (NASDAQ:APP) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,525 shares of the company’s stock after purchasing an additional 1,262 shares during the quarter. Centaurus Financial Inc.’s holdings in AppLovin were worth $7,185,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of APP. Aberdeen Group plc grew its position in shares of AppLovin by 6.5% during the 2nd quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock valued at $39,972,000 after purchasing an additional 7,001 shares in the last quarter. Legal Advantage Investments Inc. bought a new stake in AppLovin during the second quarter valued at $1,523,000. IFM Investors Pty Ltd grew its position in AppLovin by 15.6% during the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after buying an additional 6,104 shares in the last quarter. Park Avenue Securities LLC grew its position in AppLovin by 30.6% during the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock worth $7,313,000 after buying an additional 4,890 shares in the last quarter. Finally, Lee Johnson Capital Management LLC increased its stake in AppLovin by 13.6% in the 2nd quarter. Lee Johnson Capital Management LLC now owns 12,449 shares of the company’s stock worth $4,358,000 after acquiring an additional 1,491 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 6.5%

Shares of APP opened at $670.67 on Friday. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61. The firm has a market cap of $226.66 billion, a price-to-earnings ratio of 81.39, a PEG ratio of 3.60 and a beta of 2.51. The firm has a 50 day moving average price of $608.97 and a 200-day moving average price of $501.74. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The firm’s revenue was up 68.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 EPS. As a group, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the sale, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 30,888 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares of the company’s stock, valued at $1,328,384,136.69. This represents a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 332,727 shares of company stock worth $195,062,520. Company insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APP. Wedbush boosted their price objective on AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of AppLovin in a research note on Monday, December 8th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Piper Sandler lifted their price objective on shares of AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group upped their target price on shares of AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Nineteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $692.60.

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.