Benjamin Edwards Inc. Acquires 363 Shares of AppLovin Corporation (NASDAQ:APP)

Benjamin Edwards Inc. increased its holdings in AppLovin Corporation (NASDAQ:APP) by 11.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,480 shares of the company’s stock after acquiring an additional 363 shares during the quarter. Benjamin Edwards Inc.’s holdings in AppLovin were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of APP. Vanguard Group Inc. raised its position in shares of AppLovin by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the last quarter. Baillie Gifford & Co. increased its stake in AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after purchasing an additional 1,185,859 shares in the last quarter. Dynasty Wealth Management LLC raised its holdings in AppLovin by 117,664.4% in the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock worth $716,133,000 after buying an additional 2,700,399 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of AppLovin by 86.5% in the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company’s stock worth $632,478,000 after buying an additional 1,107,104 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of AppLovin by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,777,946 shares of the company’s stock valued at $575,941,000 after buying an additional 61,222 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In related news, CFO Matthew Stumpf sold 9,714 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $423.00, for a total value of $4,109,022.00. Following the transaction, the chief financial officer directly owned 192,421 shares of the company’s stock, valued at approximately $81,394,083. The trade was a 4.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $419.91, for a total value of $41,991,000.00. Following the completion of the transaction, the director owned 181,929 shares of the company’s stock, valued at $76,393,806.39. The trade was a 35.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 400,398 shares of company stock valued at $151,712,641. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

NASDAQ APP opened at $446.40 on Thursday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 12 month low of $80.14 and a 12 month high of $525.15. The stock has a market cap of $151.06 billion, a price-to-earnings ratio of 63.41, a PEG ratio of 2.61 and a beta of 2.43. The company’s 50 day moving average is $370.02 and its two-hundred day moving average is $342.07.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) 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 firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on shares of AppLovin from $460.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. HSBC set a $436.00 price target on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. BTIG Research lifted their price objective on AppLovin from $480.00 to $483.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Citigroup reissued a “buy” rating on shares of AppLovin in a research report on Thursday, May 29th. Finally, Wells Fargo & Company lifted their price target on shares of AppLovin from $405.00 to $480.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $472.33.

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.