Beck Bode LLC Acquires 701 Shares of AppLovin Corporation $APP

Beck Bode LLC boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,495 shares of the company’s stock after purchasing an additional 701 shares during the period. Beck Bode LLC’s holdings in AppLovin were worth $5,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atala Financial Inc acquired a new position in shares of AppLovin during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin during the first quarter worth $27,000. ORG Wealth Partners LLC acquired a new position in shares of AppLovin during the first quarter worth $29,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of AppLovin during the first quarter worth $29,000. Finally, SouthState Corp acquired a new position in shares of AppLovin during the first quarter worth $29,000. 41.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the transaction, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This trade represents a 0.88% 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 90,000 shares of AppLovin stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,054 shares of the company’s stock, valued at approximately $1,103,147,536.16. This trade represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,236,152 shares of company stock valued at $545,240,378. Insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of APP opened at $462.94 on Thursday. The firm’s fifty day simple moving average is $381.53 and its two-hundred day simple moving average is $346.92. AppLovin Corporation has a 12 month low of $82.51 and a 12 month high of $525.15. 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 stock has a market capitalization of $156.59 billion, a P/E ratio of 65.76, a price-to-earnings-growth ratio of 2.62 and a beta of 2.43.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 return on equity of 252.67% and a net margin of 45.72%.The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company posted $0.89 EPS. The business’s quarterly revenue was up 77.1% on a year-over-year basis. As a group, analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Analysts Set New Price Targets

APP has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Zacks Research upgraded shares of AppLovin to a “strong-buy” rating in a report on Friday, August 8th. Wall Street Zen downgraded shares of AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. UBS Group boosted their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, Benchmark reissued a “buy” rating and issued a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $472.86.

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.