Investment House LLC Has $17.63 Million Stake in AppLovin Corporation $APP

Investment House LLC grew its stake in AppLovin Corporation (NASDAQ:APP) by 7.4% during the second quarter, HoldingsChannel reports. The firm owned 50,362 shares of the company’s stock after buying an additional 3,462 shares during the quarter. Investment House LLC’s holdings in AppLovin were worth $17,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aberdeen Group plc boosted its holdings in shares of AppLovin by 6.5% during the 2nd 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. Legal Advantage Investments Inc. bought a new position in AppLovin in the second quarter valued at about $1,523,000. IFM Investors Pty Ltd boosted its stake 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 purchasing an additional 6,104 shares in the last quarter. Park Avenue Securities LLC grew its holdings 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 purchasing an additional 4,890 shares during the last quarter. Finally, Lee Johnson Capital Management LLC grew its holdings in shares of AppLovin by 13.6% during the second quarter. Lee Johnson Capital Management LLC now owns 12,449 shares of the company’s stock worth $4,358,000 after purchasing an additional 1,491 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the completion of the sale, the director directly owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the sale, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. This trade represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 332,727 shares of company stock worth $195,062,520. 13.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APP shares. Scotiabank lifted their target price on shares of AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Morgan Stanley upped their price target 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. The Goldman Sachs Group lifted their price target on shares of AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Wells Fargo & Company boosted their price objective on shares of AppLovin from $633.00 to $721.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, UBS Group increased their price objective on AppLovin from $810.00 to $840.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Nineteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $679.85.

AppLovin Stock Performance

Shares of AppLovin stock opened at $703.28 on Thursday. The business has a 50-day simple moving average of $608.54 and a 200 day simple moving average of $497.18. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The firm has a market capitalization of $237.68 billion, a price-to-earnings ratio of 85.35, a PEG ratio of 3.89 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business posted $1.29 EPS. AppLovin’s quarterly revenue was up 68.2% on a year-over-year basis. On average, research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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.