Aberdeen Group plc Buys 67,454 Shares of AppLovin Corporation $APP

Key Points

• Aberdeen Group plc increased its holdings in AppLovin Corporation by 169.8% during the first quarter, bringing its total ownership to approximately $28.4 million.
• Several other institutional investors have also boosted their stakes in AppLovin, with Vanguard Group increasing its holdings by 7.3% to own 17.8 million shares worth about $4.7 billion.
• Despite a quarterly earnings miss compared to expectations, AppLovin reported a 45.72% net margin and a year-over-year revenue increase of 77.1%, with earnings per share of $2.26.

Aberdeen Group plc increased its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 169.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,179 shares of the company's stock after purchasing an additional 67,454 shares during the quarter. Aberdeen Group plc's holdings in AppLovin were worth $28,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth $25,000. Atala Financial Inc bought a new position in shares of AppLovin in the first quarter valued at $26,000. Alpine Bank Wealth Management bought a new position in shares of AppLovin in the first quarter valued at $27,000. ORG Wealth Partners LLC bought a new position in shares of AppLovin during the first quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of AppLovin during the first quarter valued at about $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In other news, Director Herald Y. Chen sold 49,800 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $436.08, for a total value of $21,716,784.00. Following the completion of the sale, the director directly owned 140,000 shares in the company, valued at approximately $61,051,200. The trade was a 26.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the sale, the director owned 7,283,292 shares of the company's stock, valued at $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,128,813 shares of company stock worth $487,483,265. 13.66% of the stock is currently owned by insiders.

AppLovin Price Performance

NASDAQ:APP traded down $24.7590 during mid-day trading on Tuesday, hitting $413.7810. 4,066,754 shares of the stock traded hands, compared to its average volume of 7,112,190. The business's 50-day moving average price is $371.92 and its 200 day moving average price is $343.39. The company has a market cap of $139.96 billion, a PE ratio of 58.78, a price-to-earnings-growth ratio of 2.45 and a beta of 2.43. AppLovin Corporation has a 12-month low of $82.51 and a 12-month high of $525.15. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business 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 earnings per share. AppLovin's revenue for the quarter was up 77.1% on a year-over-year basis. On average, analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on APP. The Goldman Sachs Group raised their price objective on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Wells Fargo & Company raised their price objective on shares of AppLovin from $405.00 to $480.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Benchmark restated a "buy" rating and set a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. Piper Sandler raised their price objective on shares of AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, BTIG Research raised their price objective on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $472.33.

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.