4,621 Shares in AppLovin Corporation (NASDAQ:APP) Purchased by Advisor Resource Council

Advisor Resource Council purchased a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,621 shares of the company's stock, valued at approximately $1,224,000.

Several other hedge funds have also recently bought and sold shares of APP. HighPoint Advisor Group LLC increased its stake in shares of AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after purchasing an additional 31 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after buying an additional 33 shares during the last quarter. Forum Financial Management LP grew its holdings in AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after buying an additional 33 shares during the last quarter. Truvestments Capital LLC increased its position in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock worth $1,696,000 after buying an additional 38 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of AppLovin by 13.4% in the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $97,000 after acquiring an additional 43 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the transaction, the director now directly owns 3,451 shares in the company, valued at $1,450,455.30. This represents a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew Stumpf sold 9,714 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the transaction, the chief financial officer now directly owns 192,421 shares of the company's stock, valued at approximately $81,394,083. This represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,212,968 shares of company stock worth $455,062,980. 13.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Wednesday, May 28th. Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. FBN Securities initiated coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. Finally, Jefferies Financial Group boosted their price target on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $438.10.

AppLovin Trading Down 5.7%

Shares of NASDAQ APP traded down $19.67 during midday trading on Friday, hitting $324.70. The stock had a trading volume of 8,710,201 shares, compared to its average volume of 6,142,543. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a market capitalization of $109.88 billion, a price-to-earnings ratio of 58.61, a PEG ratio of 1.89 and a beta of 2.53. The company has a fifty day moving average price of $333.20 and a 200 day moving average price of $334.17.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm posted $0.67 earnings per share. AppLovin's revenue for the quarter was up 40.3% compared to the same quarter last year. On average, analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.