AppLovin Corporation $APP Shares Purchased by Linden Thomas Advisory Services LLC

Key Points

• Linden Thomas Advisory Services LLC increased its stake in AppLovin Corporation by 2.7% in Q2, owning 21,042 shares valued at approximately $7.37 million.
• AppLovin's stock gained 5.1%, reaching $620.00, while the company reported a 77.1% year-over-year revenue increase with an EPS of $2.26, surpassing estimates.
• Insiders sold a total of 1,156,788 shares worth $514.86 million in the past 90 days, significantly reducing their ownership in the company.

Linden Thomas Advisory Services LLC raised its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,042 shares of the company's stock after purchasing an additional 551 shares during the period. AppLovin accounts for 0.8% of Linden Thomas Advisory Services LLC's portfolio, making the stock its 12th largest position. Linden Thomas Advisory Services LLC's holdings in AppLovin were worth $7,366,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new position in AppLovin during the fourth quarter worth approximately $294,000. Bison Wealth LLC purchased a new stake in AppLovin during the fourth quarter worth approximately $239,000. Cambridge Investment Research Advisors Inc. grew its stake in AppLovin by 44.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,105 shares of the company's stock worth $6,652,000 after buying an additional 7,778 shares during the period. Spire Wealth Management grew its stake in AppLovin by 75.4% during the first quarter. Spire Wealth Management now owns 7,741 shares of the company's stock worth $2,051,000 after buying an additional 3,327 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in AppLovin by 6,600.0% during the first quarter. Golden State Wealth Management LLC now owns 201 shares of the company's stock worth $53,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Up 5.1%

NASDAQ APP traded up $30.30 during trading hours on Friday, reaching $620.00. 4,094,184 shares of the company traded hands, compared to its average volume of 6,107,450. AppLovin Corporation has a 12 month low of $158.33 and a 12 month high of $745.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The stock has a market capitalization of $209.72 billion, a PE ratio of 88.07, a PEG ratio of 3.20 and a beta of 2.53. The company has a 50 day moving average of $569.09 and a two-hundred day moving average of $422.86.

AppLovin (NASDAQ:APP - Get Free Report) last posted 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 firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm posted $0.89 EPS. The firm's revenue was up 77.1% compared to the same quarter last year. As a group, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 90,000 shares of the firm's 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 transaction, the chief executive officer directly owned 2,620,054 shares in the company, valued at approximately $1,103,147,536.16. This trade represents a 3.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 35,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the transaction, the insider owned 269,955 shares in the company, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,156,788 shares of company stock worth $514,863,333. Company insiders own 13.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on APP shares. Morgan Stanley boosted their price objective on shares of AppLovin from $480.00 to $750.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Tuesday, August 26th. Wedbush boosted their price objective on shares of AppLovin from $725.00 to $745.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the company a "buy" rating in a research note on Wednesday. Finally, BTIG Research upped their target price on shares of AppLovin from $547.00 to $664.00 and gave the company a "buy" rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $605.13.

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.

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