NEOS Investment Management LLC Acquires 21,034 Shares of AppLovin Corporation $APP

NEOS Investment Management LLC lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 10.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,667 shares of the company’s stock after purchasing an additional 21,034 shares during the quarter. NEOS Investment Management LLC owned 0.07% of AppLovin worth $117,301,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of APP. Revolve Wealth Partners LLC raised its stake in AppLovin by 2.8% in the second quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock valued at $438,000 after purchasing an additional 23 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. IMA Advisory Services Inc. increased its holdings in shares of AppLovin by 40.0% in the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after buying an additional 24 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of AppLovin by 2.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,115 shares of the company’s stock valued at $828,000 after buying an additional 24 shares in the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of AppLovin by 41.3% during the 1st quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock valued at $35,000 after buying an additional 26 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the sale, the director directly owned 120,444 shares in the company, valued at $62,786,252.76. The trade was a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 271,152 shares of company stock worth $135,295,830. 12.81% of the stock is currently owned by company insiders.

AppLovin Stock Down 1.7%

Shares of AppLovin stock opened at $313.58 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. AppLovin Corporation has a 52-week low of $297.50 and a 52-week high of $745.61. The company’s 50 day moving average price is $397.72 and its 200-day moving average price is $441.12. The stock has a market capitalization of $104.94 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 0.67 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 EPS for the quarter, meeting analysts’ consensus estimates of $3.76. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The firm’s revenue was up 52.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.39 EPS. Equities research analysts forecast that AppLovin Corporation will post 15.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Benchmark dropped their price objective on shares of AppLovin from $500.00 to $440.00 and set a “buy” rating for the company in a report on Monday, August 17th. UBS Group reduced their target price on AppLovin from $798.00 to $790.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wells Fargo & Company dropped their price target on AppLovin from $357.00 to $325.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 19th. Wedbush cut their price objective on AppLovin from $640.00 to $610.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, Phillip Securities upgraded AppLovin from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $538.61.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.