ESG Planning DBA Harper Investing Acquires Shares of 3,641 AppLovin Corporation (NASDAQ:APP)

ESG Planning DBA Harper Investing purchased a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,641 shares of the company's stock, valued at approximately $965,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares during the period. Norges Bank purchased a new stake in shares of AppLovin in the fourth quarter worth about $828,138,000. Arrowstreet Capital Limited Partnership boosted its position in shares of AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after acquiring an additional 2,373,885 shares during the period. Alliancebernstein L.P. grew its stake in AppLovin by 193.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company's stock valued at $882,469,000 after acquiring an additional 1,797,027 shares in the last quarter. Finally, Capital World Investors bought a new stake in AppLovin during the 4th quarter worth approximately $421,470,000. Institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

APP has been the topic of a number of research analyst reports. FBN Securities started coverage on AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price on the stock. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. Morgan Stanley boosted their price target on AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Loop Capital reaffirmed a "buy" rating and set a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th. Finally, Scotiabank raised AppLovin to a "strong-buy" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $438.43.

AppLovin Stock Performance

NASDAQ APP traded down $2.94 on Tuesday, reaching $352.96. 3,384,304 shares of the stock were exchanged, compared to its average volume of 5,173,389. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15. The firm has a market capitalization of $119.44 billion, a PE ratio of 64.24, a PEG ratio of 2.12 and a beta of 2.42. The company's 50-day simple moving average is $359.31 and its two-hundred day simple moving average is $334.34.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. Analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 513 shares of AppLovin stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the sale, the director owned 3,451 shares of the company's stock, valued at approximately $1,450,455.30. This trade represents a 12.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara Messing sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the transaction, the director directly owned 9,510 shares in the company, valued at approximately $3,637,194.60. This represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,212,968 shares of company stock worth $455,062,980 in the last three months. 13.66% of the stock is owned by company insiders.

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.