Bridgewater Advisors Inc. Makes New Investment in AppLovin Corporation $APP

Bridgewater Advisors Inc. purchased a new stake in AppLovin Corporation (NASDAQ:APP) during the second quarter, Holdings Channel reports. The firm purchased 582 shares of the company’s stock, valued at approximately $210,000.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings downgraded shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. UBS Group lifted their price objective on shares of AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $705.00 target price on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, Bank of America lifted their price target on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.39.

AppLovin Trading Down 3.7%

NASDAQ APP opened at $608.68 on Wednesday. AppLovin Corporation has a 1 year low of $160.52 and a 1 year high of $745.61. 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 company has a market capitalization of $205.89 billion, a PE ratio of 86.46, a P/E/G ratio of 3.43 and a beta of 2.50. The company has a fifty day moving average of $596.21 and a 200 day moving average of $445.26.

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

Insider Buying and Selling

In other news, Director Dawson Alyssa Harvey sold 350 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $487.97, for a total transaction of $170,789.50. Following the sale, the director owned 3,150 shares of the company’s stock, valued at $1,537,105.50. This trade represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the transaction, the chief technology officer owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,156,788 shares of company stock valued at $514,863,333 in the last three months. 13.66% of the stock is currently owned by insiders.

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.