AppLovin Corporation (NASDAQ:APP) Stake Boosted by Affinity Investment Advisors LLC

Key Points

• Affinity Investment Advisors LLC increased its stake in AppLovin Corporation by 20.0%, owning 4,540 shares valued at $1,203,000 as of the latest filing.
• Other institutional investors, including Steward Partners Investment Advisory LLC and American Century Companies Inc., significantly increased their positions, indicating strong institutional interest in AppLovin.
• AppLovin reported a net margin of 45.72% and a year-over-year revenue increase of 77.1%, outperforming analysts' earnings expectations while missing revenue targets.

Affinity Investment Advisors LLC increased its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,540 shares of the company's stock after acquiring an additional 756 shares during the period. Affinity Investment Advisors LLC's holdings in AppLovin were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its stake in shares of AppLovin by 3,816.1% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 67,318 shares of the company's stock valued at $17,837,000 after purchasing an additional 65,599 shares during the last quarter. Roberts Capital Advisors LLC acquired a new stake in shares of AppLovin in the first quarter worth about $573,000. Gen Wealth Partners Inc acquired a new stake in shares of AppLovin in the first quarter worth about $147,000. American Century Companies Inc. boosted its stake in shares of AppLovin by 13.9% during the 1st quarter. American Century Companies Inc. now owns 1,134,842 shares of the company's stock worth $300,699,000 after acquiring an additional 138,063 shares in the last quarter. Finally, Aberdeen Group plc increased its holdings in shares of AppLovin by 169.8% during the 1st quarter. Aberdeen Group plc now owns 107,179 shares of the company's stock valued at $28,399,000 after acquiring an additional 67,454 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Up 1.2%

Shares of NASDAQ:APP opened at $438.68 on Friday. The company has a 50 day moving average of $370.82 and a 200-day moving average of $343.07. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15. The stock has a market cap of $148.38 billion, a price-to-earnings ratio of 62.31, a P/E/G ratio of 2.45 and a beta of 2.43.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%. AppLovin's revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 EPS. On average, sell-side analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the transaction, the director directly owned 3,451 shares in the company, valued at approximately $1,450,455.30. The trade was a 12.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director owned 7,283,292 shares of the company's stock, valued at $3,394,014,072. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 925,398 shares of company stock worth $392,582,738 over the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APP has been the subject of several analyst reports. Benchmark restated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. Jefferies Financial Group lifted their price target on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group boosted their price objective on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Oppenheimer reiterated an "outperform" rating and issued a $500.00 target price (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, Zacks Research upgraded shares of AppLovin to a "strong-buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $472.33.

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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