600 Shares in AppLovin Corporation $APP Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. acquired a new position in AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 600 shares of the company’s stock, valued at approximately $210,000.

Other large investors also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC increased its position in shares of AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock worth $445,000 after acquiring an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of AppLovin by 62.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock worth $45,675,000 after acquiring an additional 66,453 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of AppLovin by 30.6% in the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock worth $7,313,000 after acquiring an additional 4,890 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of AppLovin by 3.5% in the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after acquiring an additional 119 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in shares of AppLovin by 15.6% in the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after acquiring an additional 6,104 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the transaction, the insider directly owned 269,955 shares of the company’s stock, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the transaction, the chief executive officer directly owned 2,590,054 shares of the company’s stock, valued at $1,140,219,472.42. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of AppLovin stock opened at $682.76 on Friday. The firm has a market cap of $230.94 billion, a PE ratio of 96.98, a price-to-earnings-growth ratio of 3.74 and a beta of 2.53. The firm’s 50-day simple moving average is $514.58 and its 200-day simple moving average is $391.46. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a 1 year low of $135.50 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 EPS. Equities analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Benchmark raised their price target on shares of AppLovin from $525.00 to $640.00 and gave the company a “buy” rating in a report on Monday, September 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. UBS Group raised their price target on shares of AppLovin from $540.00 to $810.00 and gave the company a “buy” rating in a report on Friday, September 26th. Finally, Zacks Research raised shares of AppLovin to a “strong-buy” rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has given 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 target price of $578.86.

About AppLovin

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.