40,200 Shares in AppLovin Corporation $APP Acquired by Duquesne Family Office LLC

Key Points

• Duquesne Family Office LLC acquired 40,200 shares of AppLovin Corporation for approximately $10.65 million during the first quarter, reflecting growing institutional interest in the company.
• AppLovin reported a quarterly earnings of $2.26 per share, exceeding estimates, but its revenue of $1.26 billion fell short of expectations, indicating mixed financial performance.
• Insider transactions included significant sales by both CEO Arash Adam Foroughi and insider Victoria Valenzuela, raising concerns about stock sentiment as insiders sold a combined total of over $18 million in shares.

Duquesne Family Office LLC purchased a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 40,200 shares of the company's stock, valued at approximately $10,652,000.

Other large investors have also modified their holdings of the company. Atala Financial Inc bought a new stake in AppLovin during the first quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in AppLovin during the first quarter valued at $27,000. ORG Wealth Partners LLC bought a new position in AppLovin in the first quarter worth about $29,000. Bartlett & CO. Wealth Management LLC bought a new position in AppLovin in the first quarter worth about $29,000. Finally, SouthState Corp bought a new position in AppLovin in the first quarter worth about $29,000. Institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the sale, the director directly owned 7,283,292 shares in the company, valued at $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $432.49, for a total value of $86,498,000.00. Following the completion of the sale, the director owned 181,929 shares of the company's stock, valued at $78,682,473.21. This trade represents a 52.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,158,288 shares of company stock valued at $515,437,023. 13.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

APP has been the topic of a number of recent research reports. Wedbush reissued an "outperform" rating and issued a $620.00 target price on shares of AppLovin in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Jefferies Financial Group raised their target price on shares of AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a report on Friday. BTIG Research raised their target price on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their price objective on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $482.86.

AppLovin Stock Performance

Shares of APP traded down $9.73 during trading hours on Friday, reaching $490.24. 8,102,116 shares of the company's stock traded hands, compared to its average volume of 5,036,863. The business's fifty day simple moving average is $402.06 and its two-hundred day simple moving average is $347.79. The firm has a market capitalization of $165.82 billion, a price-to-earnings ratio of 69.64, a P/E/G ratio of 2.74 and a beta of 2.44. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the company earned $0.89 EPS. AppLovin's quarterly revenue was up 77.1% on a year-over-year basis. Analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.