Western Financial Corp CA Purchases 6,497 Shares of AppLovin Corporation (NASDAQ:APP)

Western Financial Corp CA boosted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 395.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,141 shares of the company's stock after buying an additional 6,497 shares during the period. AppLovin makes up about 1.3% of Western Financial Corp CA's investment portfolio, making the stock its 11th biggest position. Western Financial Corp CA's holdings in AppLovin were worth $2,157,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of APP. FMR LLC lifted its holdings in AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after buying an additional 5,957,885 shares during the period. SVB Wealth LLC bought a new stake in AppLovin in the fourth quarter valued at approximately $1,781,922,000. Norges Bank bought a new stake in AppLovin in the fourth quarter valued at approximately $828,138,000. Arrowstreet Capital Limited Partnership increased its stake in AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after purchasing an additional 2,373,885 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in AppLovin by 193.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company's stock valued at $882,469,000 after purchasing an additional 1,797,027 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

APP stock traded down $13.67 during mid-day trading on Friday, hitting $333.78. The stock had a trading volume of 18,524,276 shares, compared to its average volume of 6,199,642. 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 52 week low of $60.67 and a 52 week high of $525.15. The firm has a market capitalization of $112.95 billion, a P/E ratio of 60.25, a P/E/G ratio of 1.99 and a beta of 2.53. The firm has a fifty day simple moving average of $343.55 and a 200 day simple moving average of $333.68.

AppLovin (NASDAQ:APP - Get Free Report) last released its 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. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The business's quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. As a group, research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the sale, the director now directly owns 3,451 shares of the company's stock, valued at $1,450,455.30. The trade was a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herald Y. Chen sold 400,000 shares of the business's stock in a transaction that occurred 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 sale, 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. Insiders have sold a total of 1,212,968 shares of company stock valued at $455,062,980 in the last 90 days. 13.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of research analyst reports. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Citigroup restated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Arete Research set a $200.00 target price on shares of AppLovin in a research report on Wednesday, March 5th. FBN Securities started coverage on shares of AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. Finally, Benchmark reaffirmed a "buy" rating and issued a $525.00 target price on shares of AppLovin in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $438.85.

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.