AppLovin Corporation (NASDAQ:APP) Shares Purchased by GAM Holding AG

GAM Holding AG boosted its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 47.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,195 shares of the company's stock after purchasing an additional 1,663 shares during the period. GAM Holding AG's holdings in AppLovin were worth $1,377,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in APP. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin during the 4th quarter valued at $25,000. Riverview Trust Co raised its position in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC purchased a new stake in shares of AppLovin during the fourth quarter valued at $28,000. Smithfield Trust Co acquired a new position in shares of AppLovin in the 4th quarter valued at $32,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of AppLovin in the 1st quarter valued at $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Down 5.7%

NASDAQ APP opened at $324.70 on Friday. AppLovin Corporation has a 1-year low of $60.67 and a 1-year high of $525.15. 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 has a market capitalization of $109.88 billion, a PE ratio of 58.61, a price-to-earnings-growth ratio of 1.89 and a beta of 2.53. The firm's fifty day simple moving average is $333.20 and its 200-day simple moving average is $334.17.

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

Wall Street Analyst Weigh In

APP has been the subject of a number of recent analyst reports. FBN Securities initiated coverage on AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price target for the company. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Loop Capital reissued a "buy" rating and set a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th. Finally, UBS Group boosted their target price on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and an average target price of $438.10.

Insider Transactions at AppLovin

In other AppLovin news, 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 transaction of $573,690.00. Following the transaction, the director now directly owns 9,510 shares of the company's stock, valued at $3,637,194.60. This represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director now directly owns 221,209 shares in the company, valued at $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is owned by insiders.

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.

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