1,912 Shares in AppLovin Corporation $APP Acquired by World Investment Advisors

World Investment Advisors acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,912 shares of the company’s stock, valued at approximately $669,000.

Other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank purchased a new position in shares of AppLovin in the second quarter worth $26,000. SouthState Corp purchased a new position in shares of AppLovin in the first quarter valued at about $29,000. Cornerstone Planning Group LLC raised its stake in shares of AppLovin by 428.0% during the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the company’s stock valued at $33,000 after acquiring an additional 107 shares during the last quarter. Hoey Investments Inc. bought a new position in shares of AppLovin during the second quarter valued at about $35,000. Finally, Trust Co. of Vermont purchased a new stake in shares of AppLovin during the second quarter worth about $35,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $432.49, for a total value of $86,498,000.00. Following the transaction, the director directly owned 181,929 shares of the company’s stock, valued at approximately $78,682,473.21. This trade represents a 52.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,156,788 shares of company stock worth $514,863,333. Company insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $637.33 on Monday. The business has a fifty day moving average price of $589.79 and a 200-day moving average price of $439.88. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market capitalization of $215.58 billion, a PE ratio of 90.53, a PEG ratio of 3.46 and a beta of 2.50. AppLovin Corporation has a 1-year low of $158.33 and a 1-year high of $745.61.

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

Analyst Ratings Changes

A number of research analysts have commented on APP shares. Scotiabank reaffirmed an “outperform” rating on shares of AppLovin in a research report on Thursday, August 28th. Weiss Ratings cut AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Benchmark raised their price target on AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Royal Bank Of Canada began coverage on shares of AppLovin in a research report on Monday, October 13th. They set an “outperform” rating and a $700.00 price objective on the stock. Finally, Wedbush restated an “outperform” rating and issued a $745.00 price objective on shares of AppLovin in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $606.39.

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.