Vident Advisory LLC Grows Position in AppLovin Corporation $APP

Key Points

• Vident Advisory LLC has increased its holdings in AppLovin Corporation by 139.9%, owning 21,316 shares valued at approximately $5.6 million.
• Several institutional investors entered new positions in AppLovin during the 1st quarter, contributing to a total of 41.85% of the company’s stock being held by institutional investors and hedge funds.
• AppLovin's recent financial report revealed an earnings per share (EPS) of $2.26, exceeding the consensus estimate by $0.21, though revenue of $1.26 billion fell short of the $1.37 billion estimate.

Vident Advisory LLC boosted its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 139.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,316 shares of the company's stock after acquiring an additional 12,431 shares during the quarter. Vident Advisory LLC's holdings in AppLovin were worth $5,648,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Dynasty Wealth Management LLC boosted its stake in AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after purchasing an additional 2,700,399 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the last quarter. Vanguard Group Inc. boosted its stake in AppLovin by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the last quarter. Baillie Gifford & Co. boosted its stake in AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in AppLovin by 86.5% during the 1st quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock worth $632,478,000 after purchasing an additional 1,107,104 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Trading Up 2.3%

NASDAQ APP traded up $11.26 during trading on Thursday, hitting $498.61. The stock had a trading volume of 3,399,766 shares, compared to its average volume of 6,982,614. The company has a market capitalization of $168.65 billion, a PE ratio of 70.93, a PEG ratio of 2.68 and a beta of 2.44. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a 50 day moving average price of $395.88 and a 200 day moving average price of $348.91. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released 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. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.AppLovin's revenue was up 77.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. As a group, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction dated 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 transaction, the chief technology officer directly owned 3,360,104 shares of the company's stock, valued at $1,470,280,707.28. The trade was a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 125,000 shares of AppLovin stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,233,165 shares of company stock valued at $544,003,820. 13.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Oppenheimer reiterated an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. UBS Group lifted their price target on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Benchmark reiterated a "buy" rating and set a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Tuesday, August 26th. Finally, Wells Fargo & Company lifted their price target on AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $478.81.

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.