Signature Estate & Investment Advisors LLC Invests $454,000 in AppLovin Corporation $APP

Signature Estate & Investment Advisors LLC purchased a new position in AppLovin Corporation (NASDAQ:APP) during the second quarter, HoldingsChannel reports. The firm purchased 1,298 shares of the company’s stock, valued at approximately $454,000.

Several other institutional investors and hedge funds have also bought and sold shares of APP. Dynasty Wealth Management LLC grew its holdings in AppLovin by 117,664.4% during the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock valued at $716,133,000 after purchasing an additional 2,700,399 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after buying an additional 1,769,400 shares in the last quarter. Vanguard Group Inc. increased its holdings in AppLovin by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after acquiring an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after purchasing an additional 1,185,859 shares during the period. Finally, Jennison Associates LLC raised its holdings in AppLovin by 86.5% during the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company’s stock valued at $632,478,000 after acquiring an additional 1,107,104 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 26,200 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $440.23, for a total value of $11,534,026.00. Following the completion of the sale, the chief executive officer owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction that occurred on Thursday, September 4th. The shares were 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 approximately $135,579,499.65. The trade was a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on APP shares. Morgan Stanley lifted their price objective on shares of AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Oppenheimer set a $740.00 price target on shares of AppLovin in a research note on Tuesday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Tuesday, August 26th. Phillip Securities raised AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Finally, Benchmark lifted their price objective on AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $600.59.

AppLovin Stock Performance

APP stock opened at $565.94 on Tuesday. The firm has a market cap of $191.43 billion, a price-to-earnings ratio of 80.39, a PEG ratio of 3.25 and a beta of 2.53. AppLovin Corporation has a twelve month low of $148.01 and a twelve 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 business’s fifty day simple moving average is $558.26 and its two-hundred day simple moving average is $415.77.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.05 by $0.21. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm’s revenue was up 77.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 EPS. Analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.