OneDigital Investment Advisors LLC Acquires 790 Shares of AppLovin Corporation (NASDAQ:APP)

OneDigital Investment Advisors LLC grew its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 37.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,906 shares of the company's stock after purchasing an additional 790 shares during the period. OneDigital Investment Advisors LLC's holdings in AppLovin were worth $770,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin in the fourth quarter valued at about $25,000. Tucker Asset Management LLC bought a new position in shares of AppLovin in the fourth quarter valued at about $28,000. Atala Financial Inc bought a new position in shares of AppLovin in the first quarter valued at about $26,000. ORG Wealth Partners LLC bought a new position in shares of AppLovin in the first quarter valued at about $29,000. Finally, Alpine Bank Wealth Management bought a new position in shares of AppLovin in the first quarter valued at about $27,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction that occurred 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 sale, the director directly owned 3,451 shares in the company, valued at $1,450,455.30. This trade represents a 12.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 100,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were 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 in the company, valued at $76,393,806.39. This represents a 35.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock worth $455,062,980 over the last ninety days. Company insiders own 13.66% of the company's stock.

AppLovin Trading Down 3.8%

Shares of NASDAQ:APP traded down $13.25 during mid-day trading on Thursday, reaching $339.49. The stock had a trading volume of 2,136,851 shares, compared to its average volume of 6,204,245. The firm has a market cap of $114.88 billion, a PE ratio of 61.11, a price-to-earnings-growth ratio of 2.05 and a beta of 2.42. The firm has a 50 day simple moving average of $356.34 and a two-hundred day simple moving average of $334.37. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on APP. HSBC set a $436.00 price target on AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. JPMorgan Chase & Co. lifted their price target on AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Wells Fargo & Company lifted their price target on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Jefferies Financial Group boosted their price objective on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus target price of $438.43.

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.