AppLovin Corporation (NASDAQ:APP) Shares Bought by Versor Investments LP

Key Points

• Versor Investments LP increased its holdings in AppLovin Corporation by 259.0%, acquiring a total of 7,898 shares valued at over $2 million by the end of the first quarter.
• Several institutional investors have significantly increased their stakes in AppLovin, including Dynasty Wealth Management, which boosted its holdings by over 117,000%, now owning 2.7 million shares valued at approximately $716 million.
• Insider trading activity showed that directors sold a combined total of 925,398 shares of AppLovin stock exceeding $392 million in value during the last quarter, indicating some potential shifts in insider confidence.

Versor Investments LP grew its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 259.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,898 shares of the company's stock after purchasing an additional 5,698 shares during the period. Versor Investments LP's holdings in AppLovin were worth $2,093,000 at the end of the most recent reporting period.

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 shares of 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 acquiring an additional 2,700,399 shares in the last quarter. Capital World Investors purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $421,470,000. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of 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 acquiring an additional 1,185,859 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of 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 acquiring an additional 1,107,104 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In related news, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the sale, the director directly owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Messing sold 1,500 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the sale, the director owned 9,510 shares of the company's stock, valued at approximately $3,637,194.60. This represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 925,398 shares of company stock worth $392,582,738. 13.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

APP has been the topic of a number of recent research reports. Wall Street Zen lowered AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. BTIG Research upped their target price on AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Scotiabank upped their target price on AppLovin from $430.00 to $450.00 and gave the company a "sector outperform" rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company upped their target price on AppLovin from $405.00 to $480.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $472.33.

AppLovin Trading Up 1.2%

APP stock opened at $438.68 on Friday. The company has a market cap of $148.38 billion, a price-to-earnings ratio of 62.31, a PEG ratio of 2.45 and a beta of 2.43. 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 business has a fifty day simple moving average of $370.82 and a 200-day simple moving average of $343.07. AppLovin Corporation has a 52 week low of $82.51 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The business 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%. The business's revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, equities research analysts expect that AppLovin Corporation will post 6.87 EPS for the current 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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