Copperwynd Financial LLC Has $2.95 Million Holdings in AppLovin Corporation $APP

Copperwynd Financial LLC increased its stake in AppLovin Corporation (NASDAQ:APP) by 4.9% in the second quarter, Holdings Channel.com reports. The firm owned 8,434 shares of the company’s stock after purchasing an additional 391 shares during the quarter. Copperwynd Financial LLC’s holdings in AppLovin were worth $2,953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atala Financial Inc acquired a new position in shares of AppLovin during the 1st quarter worth about $26,000. Hilltop National Bank acquired a new position in shares of AppLovin during the 2nd quarter worth about $26,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin during the 1st quarter worth about $27,000. ORG Wealth Partners LLC acquired a new position in shares of AppLovin during the 1st quarter worth about $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of AppLovin during the 1st quarter worth about $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the firm’s 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 transaction, the insider directly owned 269,955 shares in the company, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on APP shares. Scotiabank restated an “outperform” rating on shares of AppLovin in a research note on Thursday, August 28th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company set a $860.00 target price on shares of AppLovin in a report on Wednesday. Finally, UBS Group upped their target price on shares of AppLovin from $540.00 to $810.00 and gave the company a “buy” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $597.38.

AppLovin Stock Down 0.3%

AppLovin stock opened at $629.70 on Thursday. The stock has a market cap of $213.00 billion, a P/E ratio of 89.45, a P/E/G ratio of 3.46 and a beta of 2.53. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a twelve month low of $139.40 and a twelve month high of $745.61. The company’s 50-day moving average price is $529.63 and its two-hundred day moving average price is $397.23.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business’s revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. As a group, analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

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.