IFP Advisors Inc Buys 1,411 Shares of AppLovin Corporation $APP

IFP Advisors Inc increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 76.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,253 shares of the company’s stock after purchasing an additional 1,411 shares during the quarter. IFP Advisors Inc’s holdings in AppLovin were worth $1,148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atala Financial Inc purchased a new stake in shares of AppLovin during the first quarter valued at about $26,000. Hilltop National Bank purchased a new stake in shares of AppLovin during the 2nd quarter valued at $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin in the 1st quarter worth $27,000. ORG Wealth Partners LLC purchased a new position in AppLovin during the 1st quarter worth $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in AppLovin during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the sale, the insider owned 269,955 shares of the company’s stock, valued at $135,579,499.65. This trade represents a 11.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dawson Alyssa Harvey sold 350 shares of AppLovin stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $487.97, for a total transaction of $170,789.50. Following the transaction, the director directly owned 3,150 shares of the company’s stock, valued at approximately $1,537,105.50. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is currently owned by company insiders.

AppLovin Price Performance

NASDAQ:APP opened at $569.89 on Monday. The firm’s fifty day moving average is $537.64 and its two-hundred day moving average is $402.05. The firm has a market cap of $192.77 billion, a price-to-earnings ratio of 80.95, a PEG ratio of 3.09 and a beta of 2.53. 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 one year low of $139.40 and a one year high of $745.61.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Oppenheimer set a $740.00 price target on AppLovin in a report on Tuesday, October 7th. UBS Group lifted their target price on shares of AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Bank of America upped their price target on shares of AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Citigroup raised their price target on shares of AppLovin from $600.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $597.38.

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.