AppLovin Corporation $APP Shares Bought by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its stake in AppLovin Corporation by 285.8%, owning 4,398 shares valued at approximately $1,165,000 as of the latest SEC filing.
• Insiders have sold a total of 1,156,788 shares of AppLovin stock worth over $514 million in the last 90 days, with institutional investors holding 41.85% of the company's stock.
• AppLovin's stock reported a P/E ratio of 82.67 and a market capitalization of $196.86 billion, with analysts predicting EPS of 6.87 for the current year.

Geneos Wealth Management Inc. lifted its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 285.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,398 shares of the company's stock after acquiring an additional 3,258 shares during the quarter. Geneos Wealth Management Inc.'s holdings in AppLovin were worth $1,165,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Atala Financial Inc bought a new stake in shares of AppLovin in the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new stake in shares of AppLovin in the 1st quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of AppLovin in the 1st quarter worth approximately $29,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of AppLovin in the 1st quarter worth approximately $29,000. Finally, SouthState Corp bought a new stake in shares of AppLovin in the 1st quarter worth approximately $29,000. Institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 350 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $487.97, for a total value of $170,789.50. Following the sale, the director owned 3,150 shares of the company's stock, valued at approximately $1,537,105.50. The trade was a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 30,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock worth $514,863,333 over the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Stock Up 1.9%

Shares of AppLovin stock opened at $582.00 on Friday. The business's fifty day moving average price is $424.50 and its two-hundred day moving average price is $353.48. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market capitalization of $196.86 billion, a P/E ratio of 82.67, a PEG ratio of 3.19 and a beta of 2.44. AppLovin Corporation has a 1-year low of $105.94 and a 1-year high of $587.88.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The firm's revenue for the quarter was up 77.1% on a year-over-year basis. As a group, research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

APP has been the topic of several recent research reports. Scotiabank reissued an "outperform" rating on shares of AppLovin in a report on Thursday, August 28th. JPMorgan Chase & Co. raised their price target on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Piper Sandler lifted their target price on AppLovin from $470.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Wells Fargo & Company lifted their target price on AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Finally, Morgan Stanley lifted their target price on AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $487.86.

AppLovin Company 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.

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