573 Shares in AppLovin Corporation $APP Bought by Independent Wealth Network Inc.

Key Points

• Independent Wealth Network Inc. acquired 573 shares of AppLovin Corporation, valued at approximately $201,000, indicating institutional interest in the company.
• Several major investors, including Dynasty Wealth Management and Vanguard Group, significantly increased their stakes in AppLovin, reflecting a growing confidence among institutional investors.
• The company reported a EPS of $2.26 in its last earnings call, exceeding analysts' estimates, while its quarterly revenue reached $1.26 billion, marking a 77.1% increase year-over-year.

Independent Wealth Network Inc. bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 573 shares of the company's stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dynasty Wealth Management LLC lifted its holdings in shares of AppLovin by 117,664.4% in the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after acquiring an additional 2,700,399 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after acquiring an additional 1,213,536 shares during the period. Baillie Gifford & Co. lifted its position in shares of AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after buying an additional 1,185,859 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of AppLovin by 86.5% during the 1st quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock worth $632,478,000 after buying an additional 1,107,104 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

APP stock opened at $669.86 on Friday. The business has a 50 day simple moving average of $480.60 and a 200-day simple moving average of $377.20. AppLovin Corporation has a 1 year low of $126.53 and a 1 year high of $671.18. The firm has a market capitalization of $226.58 billion, a PE ratio of 95.15, a price-to-earnings-growth ratio of 3.71 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 (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company earned $0.89 earnings per share. AppLovin's quarterly revenue was up 77.1% compared to the same quarter last year. Equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 26,200 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the sale, the chief executive officer directly owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock valued at $514,863,333 in the last 90 days. 13.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wedbush upped their price target on AppLovin from $620.00 to $725.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Wall Street Zen lowered AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Jefferies Financial Group raised their price objective 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 upped their target price on shares of AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $540.76.

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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