Paragon Advisors LLC Makes New Investment in AppLovin Corporation $APP

Paragon Advisors LLC purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 3,875 shares of the company’s stock, valued at approximately $2,784,000.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in AppLovin by 0.4% in the second quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company’s stock worth $6,267,410,000 after buying an additional 72,120 shares during the last quarter. State Street Corp grew its position in AppLovin by 2.4% in the second quarter. State Street Corp now owns 5,615,415 shares of the company’s stock worth $1,965,844,000 after acquiring an additional 133,402 shares in the last quarter. Jennison Associates LLC grew its position in AppLovin by 55.2% in the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock worth $2,792,355,000 after acquiring an additional 1,381,970 shares in the last quarter. Norges Bank acquired a new position in shares of AppLovin during the 2nd quarter worth $951,541,000. Finally, Rakuten Investment Management Inc. bought a new position in shares of AppLovin during the 3rd quarter valued at $1,456,108,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the transaction, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 150 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the completion of the sale, the director directly owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. This trade represents a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 340,336 shares of company stock worth $200,062,623. Insiders own 13.66% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $542.36 on Thursday. The stock has a 50-day simple moving average of $635.31 and a 200 day simple moving average of $564.95. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The stock has a market capitalization of $183.29 billion, a PE ratio of 65.82, a P/E/G ratio of 1.79 and a beta of 2.50. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $1.29 EPS. The company’s revenue was up 68.2% on a year-over-year basis. Research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on APP shares. Evercore ISI assumed coverage on shares of AppLovin in a report on Wednesday, January 14th. They issued an “outperform” rating and a $835.00 price objective for the company. UBS Group set a $800.00 price target on AppLovin in a research report on Tuesday, January 13th. Jefferies Financial Group upped their price target on AppLovin from $800.00 to $860.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Oppenheimer set a $740.00 price objective on AppLovin in a research note on Tuesday, October 7th. Finally, Bank of America upped their target price on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $706.45.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.