AppLovin Corporation (NASDAQ:APP) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,830,675 shares of the company's stock after buying an additional 1,213,536 shares during the quarter. Vanguard Group Inc. owned approximately 5.24% of AppLovin worth $4,724,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin in the 4th quarter valued at about $25,000. Atala Financial Inc purchased a new position in shares of AppLovin in the 1st quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of AppLovin in the first quarter valued at approximately $29,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin during the first quarter worth approximately $27,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of AppLovin during the first quarter worth $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APP has been the topic of several recent research reports. Wedbush reissued an "outperform" rating and issued a $620.00 price objective on shares of AppLovin in a research note on Thursday. Wall Street Zen raised shares of AppLovin from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Scotiabank increased their price target on shares of AppLovin from $430.00 to $450.00 and gave the stock a "sector outperform" rating in a report on Thursday. Wells Fargo & Company raised their price objective on shares of AppLovin from $405.00 to $480.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Citigroup reiterated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $472.33.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 9,714 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the sale, the chief financial officer directly owned 192,421 shares of the company's stock, valued at $81,394,083. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 34,766 shares of AppLovin stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the sale, the chief technology officer owned 70,889 shares of the company's stock, valued at approximately $25,069,185.96. This trade represents a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Insiders own 13.66% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $437.34 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. The company's 50-day moving average price is $365.28 and its 200 day moving average price is $339.24. AppLovin Corporation has a 52 week low of $66.16 and a 52 week high of $525.15. The stock has a market cap of $147.99 billion, a price-to-earnings ratio of 62.12, a PEG ratio of 2.33 and a beta of 2.43.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 274.45%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business earned $0.89 earnings per share. The company's quarterly revenue was up 77.1% on a year-over-year basis. As a group, research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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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