AppLovin Corporation (NASDAQ:APP) Shares Bought by Simon Quick Advisors LLC

Simon Quick Advisors LLC lifted its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 60.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,854 shares of the company's stock after acquiring an additional 701 shares during the quarter. Simon Quick Advisors LLC's holdings in AppLovin were worth $491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tcfg Wealth Management LLC bought a new stake in shares of AppLovin in the 4th quarter valued at about $369,000. Capital Advisory Group Advisory Services LLC purchased a new position in AppLovin during the fourth quarter valued at approximately $213,000. Vicus Capital bought a new position in AppLovin in the fourth quarter worth approximately $349,000. Peak Retirement Planning Inc. purchased a new stake in AppLovin during the fourth quarter worth $969,000. Finally, Parcion Private Wealth LLC bought a new stake in AppLovin during the 4th quarter valued at $366,000. Institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on APP shares. UBS Group boosted their price target on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Piper Sandler lifted their target price on AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Oppenheimer reissued an "outperform" rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $438.10.

Insider Buying and Selling

In related news, CFO Matthew Stumpf sold 9,714 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $423.00, for a total value of $4,109,022.00. Following the sale, the chief financial officer now owns 192,421 shares of the company's stock, valued at $81,394,083. This trade represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 33,700 shares of AppLovin stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $365.54, for a total transaction of $12,318,698.00. Following the completion of the transaction, the chief executive officer now owns 2,760,363 shares of the company's stock, valued at $1,009,023,091.02. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,212,968 shares of company stock worth $455,062,980. Company insiders own 13.66% of the company's stock.

AppLovin Price Performance

APP stock traded down $10.23 during trading on Tuesday, hitting $360.45. The stock had a trading volume of 2,950,554 shares, compared to its average volume of 6,111,281. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15. The company's 50-day moving average price is $328.71 and its two-hundred day moving average price is $334.64. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a market capitalization of $121.97 billion, a P/E ratio of 65.06, a PEG ratio of 2.20 and a beta of 2.53.

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