Andina Capital Management LLC Makes New $333,000 Investment in AppLovin Corporation $APP

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Andina Capital Management LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,257 shares of the company's stock, valued at approximately $333,000.

Several other large investors have also bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new position in AppLovin in the fourth quarter valued at approximately $294,000. Jump Financial LLC acquired a new position in AppLovin in the fourth quarter valued at approximately $1,242,000. Ossiam lifted its holdings in AppLovin by 365.3% in the fourth quarter. Ossiam now owns 7,421 shares of the company's stock valued at $2,403,000 after buying an additional 5,826 shares during the period. Norinchukin Bank The acquired a new position in AppLovin in the fourth quarter valued at approximately $968,000. Finally, Tower Research Capital LLC TRC lifted its holdings in AppLovin by 930.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,668 shares of the company's stock valued at $4,750,000 after buying an additional 13,244 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP traded up $22.92 during midday trading on Friday, reaching $441.68. The stock had a trading volume of 6,199,963 shares, compared to its average volume of 6,240,730. The firm has a 50 day simple moving average of $375.38 and a 200-day simple moving average of $345.14. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15. The firm has a market cap of $149.40 billion, a PE ratio of 62.74, a P/E/G ratio of 2.34 and a beta of 2.43. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating 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 company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm posted $0.89 EPS. The company's quarterly revenue was up 77.1% on a year-over-year basis. As a group, sell-side analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BTIG Research increased their price objective on shares of AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group raised their target price on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and an average price target of $472.86.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 90,000 shares of AppLovin stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares of the company's stock, valued at $1,103,147,536.16. This trade represents a 3.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the transaction, the chief technology officer directly owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,221,152 shares of company stock worth $538,490,378. Insiders own 13.66% of the company's stock.

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.