722 Shares in AppLovin Corporation $APP Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC acquired 722 shares of AppLovin Corporation valued at approximately $253,000 during the 2nd quarter, amidst a rise in interest from institutional investors, who own 41.85% of the stock.
• AppLovin's stock has declined by 14.0%, and its market capitalization stands at $198.55 billion, with a notable P/E ratio of 83.38 and a one-year price fluctuation between $137.20 and $745.61.
• The company's latest earnings report showed a net margin of 45.72% and revenue of $1.26 billion, although it fell short of analyst expectations and revenue increased by 77.1% year-over-year.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in 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 722 shares of the company's stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilltop National Bank purchased a new position in AppLovin during the second quarter valued at approximately $26,000. Atala Financial Inc bought a new position in AppLovin in the 1st quarter valued at $26,000. Hoey Investments Inc. purchased a new position in shares of AppLovin during the 2nd quarter valued at $35,000. Trust Co. of Vermont purchased a new position in shares of AppLovin during the 2nd quarter valued at $35,000. Finally, ORG Wealth Partners LLC bought a new position in shares of AppLovin in the first quarter worth $29,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Down 14.0%

Shares of NASDAQ APP opened at $587.00 on Tuesday. The stock has a market capitalization of $198.55 billion, a P/E ratio of 83.38, a PEG ratio of 3.74 and a beta of 2.53. AppLovin Corporation has a one year low of $137.20 and a one year high of $745.61. The firm's 50 day simple moving average is $518.90 and its two-hundred day simple moving average is $393.96. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business posted $0.89 EPS. The business's quarterly revenue was up 77.1% on a year-over-year basis. As a group, analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Phillip Securities raised AppLovin to a "moderate buy" rating in a research note on Monday, September 29th. Oppenheimer lifted their price target on AppLovin from $500.00 to $740.00 and gave the company an "outperform" rating in a research report on Tuesday, September 23rd. Benchmark boosted their price objective on AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Scotiabank reaffirmed an "outperform" rating on shares of AppLovin in a research note on Thursday, August 28th. Finally, Wall Street Zen cut shares of AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $579.81.

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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