AssuredPartners Investment Advisors LLC Buys 448 Shares of AppLovin Corporation $APP

Key Points

• AssuredPartners Investment Advisors LLC increased its stake in AppLovin Corporation by 20.6%, acquiring an additional 448 shares, bringing its total holdings to 2,618 shares valued at approximately $917,000.
• Multiple institutional investors have also increased their positions in AppLovin, with Aware Super Pty Ltd significantly boosting its stake by 127.4% during the same quarter.
• AppLovin recently reported a quarterly earnings per share of $2.26, exceeding estimates and showing a 77.1% year-over-year revenue increase, despite a lower revenue than expected.

AssuredPartners Investment Advisors LLC boosted its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 20.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,618 shares of the company's stock after buying an additional 448 shares during the quarter. AssuredPartners Investment Advisors LLC's holdings in AppLovin were worth $917,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Private Trust Co. NA increased its position in AppLovin by 57.5% during the 2nd quarter. Private Trust Co. NA now owns 1,575 shares of the company's stock valued at $551,000 after purchasing an additional 575 shares during the period. Angeles Wealth Management LLC purchased a new position in AppLovin during the 2nd quarter valued at about $234,000. Applied Finance Capital Management LLC purchased a new position in AppLovin during the 2nd quarter valued at about $1,552,000. Nordea Investment Management AB increased its position in AppLovin by 16.2% during the 2nd quarter. Nordea Investment Management AB now owns 213,855 shares of the company's stock valued at $76,849,000 after purchasing an additional 29,862 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super increased its position in AppLovin by 127.4% during the 2nd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 42,458 shares of the company's stock valued at $14,864,000 after purchasing an additional 23,789 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 35,000 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the transaction, the insider directly owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock valued at $514,863,333 over the last quarter. 13.66% of the stock is owned by insiders.

AppLovin Price Performance

Shares of NASDAQ APP opened at $605.68 on Friday. The firm has a 50-day simple moving average of $553.38 and a 200-day simple moving average of $409.27. The stock has a market capitalization of $204.87 billion, a price-to-earnings ratio of 86.03, a price-to-earnings-growth ratio of 3.27 and a beta of 2.53. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 52 week low of $141.35 and a 52 week high of $745.61.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on APP shares. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Phillip Securities raised shares of AppLovin to a "moderate buy" rating in a research report on Monday, September 29th. Zacks Research downgraded shares of AppLovin from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Piper Sandler boosted their target price on shares of AppLovin from $500.00 to $740.00 and gave the stock an "overweight" rating in a research report on Friday, September 26th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of AppLovin in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AppLovin has an average rating of "Moderate Buy" and an average price target of $600.59.

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.

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