AppLovin Corporation (NASDAQ:APP) Shares Bought by Amalgamated Bank

Amalgamated Bank boosted its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,578 shares of the company's stock after purchasing an additional 959 shares during the period. Amalgamated Bank's holdings in AppLovin were worth $4,923,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin during the fourth quarter valued at $25,000. Atala Financial Inc acquired a new position in shares of AppLovin in the 1st quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin in the first quarter worth about $27,000. Tucker Asset Management LLC acquired a new stake in AppLovin during the fourth quarter worth about $28,000. Finally, ORG Wealth Partners LLC acquired a new stake in AppLovin during the first quarter worth about $29,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 100,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $419.91, for a total value of $41,991,000.00. Following the transaction, the director directly owned 181,929 shares in the company, valued at approximately $76,393,806.39. This represents a 35.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 34,766 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the transaction, the chief technology officer directly owned 70,889 shares of the company's stock, valued at $25,069,185.96. The trade was a 32.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Insiders own 13.66% of the company's stock.

AppLovin Trading Up 1.3%

NASDAQ:APP traded up $4.24 during trading hours on Thursday, hitting $340.24. The company had a trading volume of 3,525,836 shares, compared to its average volume of 6,207,708. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a market cap of $115.13 billion, a P/E ratio of 61.42, a P/E/G ratio of 2.01 and a beta of 2.42. The company has a 50-day moving average of $349.64 and a 200 day moving average of $333.90. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. AppLovin's quarterly revenue was up 40.3% on a year-over-year basis. Sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

APP has been the topic of a number of analyst reports. FBN Securities initiated coverage on shares of AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective on the stock. Benchmark reaffirmed a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. Piper Sandler reiterated an "overweight" rating and issued a $470.00 price objective (up previously from $455.00) on shares of AppLovin in a research report on Thursday, June 26th. Citigroup restated a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Finally, Wells Fargo & Company increased their price target on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $438.85.

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.