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OneDigital Investment Advisors LLC Increases Position in AppLovin Corporation (NASDAQ:APP)

AppLovin logo with Business Services background

OneDigital Investment Advisors LLC grew its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 37.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,906 shares of the company's stock after purchasing an additional 790 shares during the quarter. OneDigital Investment Advisors LLC's holdings in AppLovin were worth $770,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of APP. Calamos Advisors LLC raised its stake in AppLovin by 5.6% during the first quarter. Calamos Advisors LLC now owns 10,203 shares of the company's stock worth $2,703,000 after purchasing an additional 540 shares during the period. Principal Financial Group Inc. raised its stake in AppLovin by 33.5% during the first quarter. Principal Financial Group Inc. now owns 78,928 shares of the company's stock worth $20,914,000 after purchasing an additional 19,822 shares during the period. Teacher Retirement System of Texas raised its stake in AppLovin by 44.3% during the first quarter. Teacher Retirement System of Texas now owns 87,120 shares of the company's stock worth $23,084,000 after purchasing an additional 26,727 shares during the period. Private Trust Co. NA raised its stake in AppLovin by 29.7% during the first quarter. Private Trust Co. NA now owns 1,000 shares of the company's stock worth $265,000 after purchasing an additional 229 shares during the period. Finally, Aaron Wealth Advisors LLC raised its stake in AppLovin by 5.8% during the first quarter. Aaron Wealth Advisors LLC now owns 1,250 shares of the company's stock worth $331,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Up 2.3%

Shares of AppLovin stock traded up $7.99 during trading hours on Wednesday, hitting $352.74. The company had a trading volume of 4,228,655 shares, compared to its average volume of 6,202,616. The company's 50-day moving average is $354.67 and its two-hundred day moving average is $334.24. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market cap of $119.36 billion, a P/E ratio of 63.67, a price-to-earnings-growth ratio of 2.06 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. AppLovin's revenue for the quarter was up 40.3% on a year-over-year basis. Analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Thursday, June 26th. Morgan Stanley boosted their price target on shares of AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Scotiabank raised shares of AppLovin to a "strong-buy" rating in a research note on Tuesday. Wells Fargo & Company boosted their price target on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Piper Sandler reissued an "overweight" rating and issued a $470.00 price target (up from $455.00) on shares of AppLovin in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $438.43.

Get Our Latest Analysis on APP

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 513 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the sale, the director owned 3,451 shares in the company, valued at approximately $1,450,455.30. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 100,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $419.91, for a total transaction of $41,991,000.00. Following the completion of the sale, the director owned 181,929 shares of the company's stock, valued at $76,393,806.39. This trade represents a 35.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock worth $455,062,980 over the last 90 days. Company insiders own 13.66% of the company's stock.

AppLovin Company Profile

(Free Report)

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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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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