AppLovin Corporation $APP Shares Purchased by Strategic Blueprint LLC

Key Points

• Strategic Blueprint LLC increased its stake in AppLovin Corporation by 45.3%, now owning 2,661 shares valued at approximately $932,000.
• AppLovin Corporation reported earnings per share (EPS) of $2.26 for the last quarter, exceeding expectations, but with revenue of $1.26 billion falling short compared to analyst predictions.
• Many analysts have set target prices for AppLovin's stock, with estimates ranging from $605 to $850, reflecting a general consensus of "Moderate Buy" for the company's stock.

Strategic Blueprint LLC grew its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 45.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,661 shares of the company's stock after acquiring an additional 829 shares during the quarter. Strategic Blueprint LLC's holdings in AppLovin were worth $932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of APP. Vestcor Inc increased its position in shares of AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after purchasing an additional 33 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of AppLovin by 32.7% during the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company's stock worth $48,000 after purchasing an additional 34 shares during the last quarter. GSG Advisors LLC increased its position in shares of AppLovin by 0.3% during the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock worth $2,820,000 after purchasing an additional 35 shares during the last quarter. LMG Wealth Partners LLC increased its position in shares of AppLovin by 0.5% during the 2nd quarter. LMG Wealth Partners LLC now owns 7,941 shares of the company's stock worth $2,780,000 after purchasing an additional 39 shares during the last quarter. Finally, Argentarii LLC increased its position in shares of AppLovin by 1.5% during the 1st quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after purchasing an additional 40 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP opened at $620.00 on Friday. The stock has a 50-day simple moving average of $569.09 and a 200-day simple moving average of $422.86. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. 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. AppLovin Corporation has a 1 year low of $158.33 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) 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 business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the business posted $0.89 EPS. The business's quarterly revenue was up 77.1% compared to the same quarter last year. On average, analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 sale, the insider owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. This trade represents a 11.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 350 shares of the firm's stock in a transaction dated 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 directly owned 3,150 shares in the company, valued at $1,537,105.50. This trade represents a 10.00% 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. Insiders own 13.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $705.00 target price on AppLovin and gave the company a "buy" rating in a report on Wednesday. BTIG Research raised their target price on AppLovin from $547.00 to $664.00 and gave the company a "buy" rating in a report on Monday, September 15th. Royal Bank Of Canada assumed coverage on AppLovin in a report on Monday, October 13th. They set an "outperform" rating and a $700.00 target price for the company. Morgan Stanley raised their target price on AppLovin from $480.00 to $750.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Finally, Citigroup raised their target price on AppLovin from $600.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus price target 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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