Vanguard Personalized Indexing Management LLC Increases Stock Position in AppLovin Corporation $APP

Vanguard Personalized Indexing Management LLC lifted its position in shares of AppLovin Corporation (NASDAQ:APP) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,183 shares of the company’s stock after acquiring an additional 2,055 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in AppLovin were worth $11,617,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of APP. Revolve Wealth Partners LLC acquired a new stake in shares of AppLovin in the 4th quarter worth approximately $294,000. Bison Wealth LLC acquired a new stake in shares of AppLovin in the 4th quarter worth approximately $239,000. Yousif Capital Management LLC grew its holdings in shares of AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after acquiring an additional 119 shares during the period. SG Americas Securities LLC grew its holdings in shares of AppLovin by 36.8% in the 1st quarter. SG Americas Securities LLC now owns 7,493 shares of the company’s stock worth $1,985,000 after acquiring an additional 2,016 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company’s stock worth $1,106,000 after acquiring an additional 121 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Down 5.1%

Shares of AppLovin stock opened at $569.89 on Monday. AppLovin Corporation has a fifty-two week low of $139.40 and a fifty-two week high of $745.61. The firm has a market cap of $192.77 billion, a PE ratio of 80.95, a P/E/G ratio of 3.09 and a beta of 2.53. The business’s fifty day moving average is $537.64 and its two-hundred day moving average is $402.05. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last issued 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. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The business’s revenue for the quarter was up 77.1% compared to the same quarter last year. Analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price target on AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Wall Street Zen cut AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Wells Fargo & Company set a $860.00 target price on AppLovin in a report on Wednesday. Finally, Oppenheimer set a $740.00 target price on AppLovin in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $597.38.

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the transaction, the director owned 181,929 shares of the company’s stock, valued at $78,682,473.21. This represents a 52.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $421.04, for a total value of $37,893,600.00. Following the transaction, the chief executive officer directly owned 2,620,054 shares in the company, valued at approximately $1,103,147,536.16. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 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.