Bienville Capital Management LLC Purchases 6,243 Shares of AppLovin Corporation $APP

Bienville Capital Management LLC boosted its position in shares of AppLovin Corporation (NASDAQ:APP) by 38.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 22,444 shares of the company’s stock after buying an additional 6,243 shares during the period. AppLovin comprises about 1.5% of Bienville Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding. Bienville Capital Management LLC’s holdings in AppLovin were worth $11,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Revolve Wealth Partners LLC grew its position in shares of AppLovin by 2.8% during the 2nd quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock worth $438,000 after buying an additional 23 shares in the last quarter. IMA Advisory Services Inc. lifted its stake in AppLovin by 40.0% in the first quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after acquiring an additional 24 shares during the period. Rehmann Capital Advisory Group grew its holdings in AppLovin by 2.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,115 shares of the company’s stock worth $828,000 after acquiring an additional 24 shares in the last quarter. CENTRAL TRUST Co increased its position in 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 purchasing an additional 26 shares during the period. Finally, Mitchell Capital Management Co. raised its holdings in shares of AppLovin by 0.5% in the 4th quarter. Mitchell Capital Management Co. now owns 5,956 shares of the company’s stock valued at $4,013,000 after purchasing an additional 27 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on APP shares. Citigroup dropped their price objective on shares of AppLovin from $710.00 to $650.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Bank of America reaffirmed a “neutral” rating and set a $400.00 target price (down from $430.00) on shares of AppLovin in a research report on Tuesday, August 11th. The Goldman Sachs Group cut their price target on AppLovin from $585.00 to $465.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Scotiabank reissued a “sector outperform” rating and issued a $515.00 price target on shares of AppLovin in a research report on Thursday, August 6th. Finally, UBS Group decreased their price objective on AppLovin from $798.00 to $790.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Three equities research 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’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $538.09.

AppLovin Price Performance

Shares of APP opened at $305.06 on Thursday. The company has a market cap of $102.09 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 0.66 and a beta of 2.49. AppLovin Corporation has a twelve month low of $297.50 and a twelve month high of $745.61. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.11. The company has a 50 day moving average of $381.77 and a two-hundred day moving average of $438.82.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.76. The business had revenue of $1.92 billion for 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 business’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.39 earnings per share. As a group, analysts predict that AppLovin Corporation will post 15.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the 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 approximately $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 208,653 shares of company stock worth $104,600,460 in the last ninety days. 12.81% of the stock is owned by insiders.

AppLovin Profile

AppLovin Corporation (NASDAQ: APP) is a technology company that provides software and services designed to help mobile application developers grow their businesses. Its platform supports user acquisition, advertising, monetization, measurement and other functions that enable developers to attract users and generate revenue from their applications.

AppLovin’s offerings include AXON, an artificial-intelligence-powered software engine used to optimize advertising and user-acquisition campaigns; MAX, a platform for managing in-app advertising and mediation; and AppDiscovery, which helps developers promote their applications.