Regal Partners Ltd Has $472,000 Holdings in AppLovin Corporation $APP

Regal Partners Ltd raised its position in AppLovin Corporation (NASDAQ:APP) by 25.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,348 shares of the company’s stock after purchasing an additional 273 shares during the quarter. Regal Partners Ltd’s holdings in AppLovin were worth $472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new position in AppLovin in the second quarter valued at about $26,000. Hoey Investments Inc. acquired a new position in AppLovin in the second quarter valued at about $35,000. Trust Co. of Vermont acquired a new position in AppLovin in the second quarter valued at about $35,000. ORG Partners LLC boosted its position in AppLovin by 146.5% in the second quarter. ORG Partners LLC now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 63 shares in the last quarter. Finally, SouthState Corp acquired a new position in AppLovin in the first quarter valued at about $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Up 2.7%

APP opened at $637.33 on Friday. 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 cap of $215.58 billion, a price-to-earnings ratio of 90.53, a price-to-earnings-growth ratio of 3.46 and a beta of 2.53. The firm has a 50 day simple moving average of $589.79 and a 200 day simple moving average of $438.41. AppLovin Corporation has a fifty-two week low of $158.33 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. AppLovin’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, sell-side analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of AppLovin from $560.00 to $615.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Wells Fargo & Company boosted their target price on shares of AppLovin from $491.00 to $633.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. BTIG Research boosted their target price on shares of AppLovin from $664.00 to $693.00 and gave the stock a “buy” rating in a research note on Friday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $630.00 target price on shares of AppLovin in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $606.39.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the sale, the insider directly owned 269,955 shares of the company’s stock, valued at approximately $135,579,499.65. This trade represents a 11.48% 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 sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by corporate insiders.

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.