580 Shares in AppLovin Corporation $APP Purchased by Astoria Portfolio Advisors LLC.

Key Points

• Astoria Portfolio Advisors LLC purchased 580 shares of AppLovin Corporation, valued at approximately $209,000, during the second quarter.
• Insiders sold a significant amount of stock recently, with the CTO and CEO selling a combined 120,000 shares at high average prices, indicating a decrease in their positions.
• Several institutional investors have increased their stakes in AppLovin, with 41.85% of its stock currently held by them, highlighting strong institutional interest in the company.

Astoria Portfolio Advisors LLC. bought a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 580 shares of the company's stock, valued at approximately $209,000.

A number of other institutional investors have also added to or reduced their stakes in APP. Dynasty Wealth Management LLC increased its stake in AppLovin by 117,664.4% in the 1st 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 position in shares of AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock valued at $1,745,752,000 after buying an additional 1,769,400 shares in the last quarter. Vanguard Group Inc. raised its position in shares of AppLovin by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after buying an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after buying an additional 1,185,859 shares in the last quarter. Finally, Jennison Associates LLC raised 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 valued at $632,478,000 after buying an additional 1,107,104 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the sale, the chief technology officer owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 90,000 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the transaction, the chief executive officer owned 2,620,054 shares in the company, valued at $1,103,147,536.16. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Company insiders own 13.66% of the company's stock.

AppLovin Price Performance

APP stock opened at $590.11 on Tuesday. The firm's 50-day moving average price is $541.54 and its two-hundred day moving average price is $404.27. AppLovin Corporation has a 12-month low of $139.40 and a 12-month high of $745.61. The stock has a market capitalization of $199.60 billion, a price-to-earnings ratio of 83.82, a PEG ratio of 3.09 and a beta of 2.53. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the company earned $0.89 earnings per share. The company's revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

APP has been the topic of several research reports. Citigroup raised their price objective on shares of AppLovin from $600.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Zacks Research cut shares of AppLovin from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. UBS Group raised their price objective on shares of AppLovin from $540.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Benchmark raised their price objective on shares of AppLovin from $525.00 to $640.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Morgan Stanley raised their price objective on shares of AppLovin from $480.00 to $750.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $602.05.

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.

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