855 Shares in AppLovin Corporation $APP Purchased by Dudley Capital Management LLC

Key Points

• Dudley Capital Management LLC has acquired 855 shares of AppLovin Corporation valued at approximately $299,000 during the second quarter.
• Insider Victoria Valenzuela sold 35,000 shares at an average price of $502.23, reducing her holdings by 11.48%, while CEO Arash Adam Foroughi sold 90,000 shares, decreasing his position by 3.32%.
• Analyst ratings show a majority consensus for AppLovin as a "Buy," with an average target price of $605.13.

Dudley Capital Management LLC bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 855 shares of the company's stock, valued at approximately $299,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vestcor Inc grew its position in AppLovin by 0.8% during the first quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after buying an additional 33 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in AppLovin by 32.7% during the second quarter. Fortitude Family Office LLC now owns 138 shares of the company's stock valued at $48,000 after purchasing an additional 34 shares in the last quarter. GSG Advisors LLC boosted its holdings in AppLovin by 0.3% during the first quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock valued at $2,820,000 after purchasing an additional 35 shares in the last quarter. LMG Wealth Partners LLC boosted its holdings in AppLovin by 0.5% during the second quarter. LMG Wealth Partners LLC now owns 7,941 shares of the company's stock valued at $2,780,000 after purchasing an additional 39 shares in the last quarter. Finally, Argentarii LLC boosted its holdings in AppLovin by 1.5% during the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock valued at $699,000 after purchasing an additional 40 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APP has been the topic of a number of recent research reports. Oppenheimer set a $740.00 price objective on AppLovin in a report on Tuesday, October 7th. Phillip Securities raised AppLovin to a "moderate buy" rating in a report on Monday, September 29th. Deutsche Bank Aktiengesellschaft set a $705.00 price objective on AppLovin and gave the company a "buy" rating in a report on Wednesday. Scotiabank reaffirmed an "outperform" rating on shares of AppLovin in a report on Thursday, August 28th. Finally, BTIG Research boosted their target price on AppLovin from $547.00 to $664.00 and gave the stock a "buy" rating in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $605.13.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 35,000 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 90,000 shares of the company's stock in a transaction on 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 sale, the chief executive officer owned 2,620,054 shares of the company's stock, valued at $1,103,147,536.16. The trade was a 3.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is owned by company insiders.

AppLovin Stock Down 2.4%

NASDAQ:APP opened at $552.64 on Wednesday. The stock's fifty day moving average price is $559.97 and its two-hundred day moving average price is $416.72. AppLovin Corporation has a 52-week low of $157.88 and a 52-week 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 company has a market cap of $186.93 billion, a price-to-earnings ratio of 78.50, a P/E/G ratio of 3.07 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business earned $0.89 EPS. The business's revenue for the quarter was up 77.1% compared to the same quarter last year. On average, analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

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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