AppLovin Corporation $APP Stock Position Raised by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its holdings in AppLovin Corporation by 6.5% during the second quarter, owning 114,180 shares valued at approximately $39.97 million.
• AppLovin reported $2.26 earnings per share for its last quarter, surpassing the estimates of $2.05, with a revenue of $1.26 billion that was up 77.1% year-over-year.
• Insider trading activity showed notable sales, with CTO Vasily Shikin selling 30,000 shares for over $13 million, indicating significant fluctuations among executive shares.

Aberdeen Group plc raised its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,180 shares of the company's stock after acquiring an additional 7,001 shares during the quarter. Aberdeen Group plc's holdings in AppLovin were worth $39,972,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Atala Financial Inc acquired a new stake in shares of AppLovin in the 1st quarter valued at $26,000. Hilltop National Bank acquired a new position in shares of AppLovin during the 2nd quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin during the 1st quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in AppLovin in the 1st quarter worth approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in AppLovin during the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Trading Down 5.1%

NASDAQ:APP opened at $569.89 on Monday. The firm has a market capitalization of $192.77 billion, a price-to-earnings ratio of 80.95, a PEG ratio of 3.09 and a beta of 2.53. The business's 50-day moving average price is $537.64 and its two-hundred day moving average price is $402.05. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 1-year low of $139.40 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm earned $0.89 EPS. AppLovin's quarterly revenue was up 77.1% compared to the same quarter last year. On average, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 30,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the sale, the chief technology officer directly owned 3,360,104 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 350 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $487.97, for a total value of $170,789.50. Following the completion of the sale, the director owned 3,150 shares in the company, valued at $1,537,105.50. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Insiders own 13.66% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on APP. Jefferies Financial Group lifted their target price on shares of AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Wall Street Zen cut AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Benchmark lifted their price objective on AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Wells Fargo & Company set a $860.00 target price on AppLovin in a research report on Wednesday. Finally, Piper Sandler lifted their target price on shares of AppLovin from $500.00 to $740.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $597.38.

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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Corporation (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.