4,350 Shares in AppLovin Corporation $APP Purchased by Legal Advantage Investments Inc.

Key Points

• Legal Advantage Investments Inc. acquired 4,350 shares of AppLovin Corporation, valued at approximately $1.5 million, during the second quarter.
• AppLovin's recent quarterly earnings report showed an EPS of $2.26, surpassing the predictions, with a net margin of 45.72% and revenue of $1.26 billion.
• Numerous analysts have raised their price targets for AppLovin, with UBS Group setting a target of $810 and Morgan Stanley increasing theirs to $750.

Legal Advantage Investments Inc. purchased a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,350 shares of the company's stock, valued at approximately $1,523,000.

A number of other large investors have also recently made changes to their positions in the company. Board of the Pension Protection Fund boosted its stake in shares of AppLovin by 5,500.0% during the 2nd quarter. Board of the Pension Protection Fund now owns 5,600 shares of the company's stock worth $1,960,000 after purchasing an additional 5,500 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of AppLovin by 6.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 33,183 shares of the company's stock worth $11,617,000 after purchasing an additional 2,055 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of AppLovin by 31.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company's stock worth $1,627,000 after purchasing an additional 1,114 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of AppLovin during the 2nd quarter worth about $208,000. Finally, Inspire Investing LLC lifted its holdings in AppLovin by 74.6% during the 2nd quarter. Inspire Investing LLC now owns 13,965 shares of the company's stock valued at $4,889,000 after buying an additional 5,965 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Down 5.1%

NASDAQ:APP opened at $569.89 on Friday. AppLovin Corporation has a one year low of $139.40 and a one year high of $745.61. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The firm has a market cap of $192.77 billion, a P/E ratio of 80.95, a P/E/G ratio of 3.09 and a beta of 2.53. The firm has a 50-day simple moving average of $537.64 and a 200-day simple moving average of $401.07.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly 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 business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business posted $0.89 EPS. The company's quarterly revenue was up 77.1% compared to the same quarter last year. Equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Benchmark upped their target price on shares of AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Morgan Stanley lifted their price target on shares of AppLovin from $480.00 to $750.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. UBS Group lifted their price target on shares of AppLovin from $540.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Finally, Wells Fargo & Company set a $860.00 price target on shares of AppLovin in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $597.38.

Insider Activity

In related news, insider Victoria Valenzuela sold 35,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the transaction, the insider owned 269,955 shares in the company, valued at $135,579,499.65. The trade was a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 125,000 shares of the business'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 transaction of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock worth $514,863,333 over the last 90 days. 13.66% of the stock is currently owned by insiders.

About AppLovin

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.

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