AppLovin Corporation $APP Stake Boosted by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in AppLovin Corporation by 66.5% in Q2, now holding shares valued at $751,000.
• Analysts have a consensus rating of Moderate Buy for AppLovin, with a price target of $578.86 and recent upgrades to "strong-buy" from Zacks Research.
• AppLovin reported an EPS of $2.26 for the quarter, exceeding analyst expectations, with year-over-year revenue growth of 77.1%.

J. Safra Sarasin Holding AG grew its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 66.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,146 shares of the company's stock after acquiring an additional 857 shares during the period. J. Safra Sarasin Holding AG's holdings in AppLovin were worth $751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atala Financial Inc purchased a new position in shares of AppLovin during the 1st quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in AppLovin in the first quarter worth $27,000. ORG Wealth Partners LLC bought a new stake in AppLovin in the first quarter worth $29,000. Bartlett & CO. Wealth Management LLC bought a new stake in AppLovin in the first quarter worth $29,000. Finally, SouthState Corp bought a new stake in AppLovin in the first quarter worth $29,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on APP shares. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Tuesday, August 26th. Zacks Research upgraded shares of AppLovin to a "strong-buy" rating in a report on Friday, August 8th. Piper Sandler upped their price objective on shares of AppLovin from $500.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, September 26th. Benchmark upped their price objective on shares of AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of AppLovin in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $578.86.

AppLovin Stock Down 0.1%

AppLovin stock opened at $682.76 on Friday. The firm has a fifty day moving average price of $514.58 and a two-hundred day moving average price of $391.46. The firm has a market cap of $230.94 billion, a price-to-earnings ratio of 96.98, a P/E/G ratio of 3.74 and a beta of 2.53. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. AppLovin Corporation has a fifty-two week low of $135.50 and a fifty-two week 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 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm's revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. As a group, analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 30,000 shares of the company's 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 owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 90,000 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the transaction, the chief executive officer directly owned 2,620,054 shares of the company's stock, valued at $1,103,147,536.16. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock valued at $514,863,333 in the last three months. Company 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.

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