920 Shares in AppLovin Corporation (NASDAQ:APP) Bought by Arcus Capital Partners LLC

Arcus Capital Partners LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 920 shares of the company's stock, valued at approximately $244,000.

Several other large investors also recently modified their holdings of APP. Allworth Financial LP boosted its holdings in shares of AppLovin by 25.9% in the 1st quarter. Allworth Financial LP now owns 855 shares of the company's stock worth $229,000 after acquiring an additional 176 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in shares of AppLovin by 58.8% in the 1st quarter. Bridges Investment Management Inc. now owns 1,678 shares of the company's stock worth $445,000 after acquiring an additional 621 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of AppLovin by 43.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 19,510 shares of the company's stock worth $5,170,000 after acquiring an additional 5,926 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of AppLovin by 86.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 10,643 shares of the company's stock worth $2,820,000 after acquiring an additional 4,949 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of AppLovin by 428.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the company's stock worth $33,000 after acquiring an additional 107 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on APP. The Goldman Sachs Group boosted their target price on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Benchmark reissued a "buy" rating and issued a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. Oppenheimer reissued an "outperform" rating and issued a $500.00 target price (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $438.43.

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 34,766 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total value of $12,294,648.24. Following the transaction, the chief technology officer owned 70,889 shares of the company's stock, valued at $25,069,185.96. This represents a 32.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 100,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total value of $36,751,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,760,363 shares in the company, valued at approximately $1,014,461,006.13. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,212,968 shares of company stock worth $455,062,980. Company insiders own 13.66% of the company's stock.

AppLovin Trading Down 3.2%

Shares of APP stock traded down $11.22 during trading hours on Friday, reaching $335.10. The company had a trading volume of 3,575,879 shares, compared to its average volume of 6,254,586. The company has a 50 day moving average of $358.23 and a 200 day moving average of $334.19. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market cap of $113.39 billion, a price-to-earnings ratio of 60.49, a P/E/G ratio of 2.00 and a beta of 2.42. AppLovin Corporation has a 1-year low of $60.67 and a 1-year high of $525.15.

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, beating analysts' consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The firm's quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 EPS. On average, equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin Company 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.