CW Advisors LLC Purchases Shares of 5,844 AppLovin Corporation $APP

Key Points

• CW Advisors LLC has acquired 5,844 shares of AppLovin Corporation, valued at approximately $1.53 million, marking a new position for the firm in the company.
• Several hedge funds, including Atala Financial Inc and Alpine Bank Wealth Management, have also made new investments in AppLovin, contributing to an institutional ownership of 41.85%.
• Despite a reported earnings miss in Q2, analysts remain optimistic with a consensus rating of "Moderate Buy" and an average price target of $472.86 for the stock.

CW Advisors LLC acquired a new position in AppLovin Corporation (NASDAQ:APP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,844 shares of the company's stock, valued at approximately $1,531,000.

Other institutional investors have also recently made changes to their positions in the company. Atala Financial Inc bought a new stake in shares of AppLovin during the first quarter worth $26,000. ORG Wealth Partners LLC purchased a new position in AppLovin during the 1st quarter worth approximately $29,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin in the first quarter valued at approximately $27,000. Bartlett & CO. Wealth Management LLC acquired a new position in AppLovin in the first quarter valued at $29,000. Finally, SouthState Corp acquired a new stake in shares of AppLovin in the first quarter valued at about $29,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 26,200 shares of the firm's stock in a transaction that occurred on 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 $1,140,219,472.42. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 17,564 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.48, for a total transaction of $7,683,898.72. Following the transaction, the chief technology officer directly owned 53,389 shares in the company, valued at $23,356,619.72. This represents a 24.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,236,152 shares of company stock worth $545,240,378 over the last three months. Insiders own 13.66% of the company's stock.

AppLovin Trading Up 4.5%

NASDAQ:APP traded up $20.81 during trading hours on Thursday, hitting $483.75. 5,893,324 shares of the stock were exchanged, compared to its average volume of 7,038,241. The company's 50 day moving average is $381.53 and its two-hundred day moving average is $346.92. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market capitalization of $163.63 billion, a P/E ratio of 68.71, a price-to-earnings-growth ratio of 2.62 and a beta of 2.43. 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company's revenue was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. On average, sell-side analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on APP. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Tuesday. Morgan Stanley raised their price target on AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. UBS Group lifted their target price on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wedbush reissued an "outperform" rating and issued a $620.00 price objective on shares of AppLovin in a research note on Thursday, August 7th. Finally, Jefferies Financial Group lifted their target price on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $478.81.

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.