Bailard Inc. Makes New Investment in AppLovin Corporation (NASDAQ:APP)

Bailard Inc. purchased a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 758 shares of the company's stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. HighPoint Advisor Group LLC raised its stake in AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after purchasing an additional 31 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after purchasing an additional 33 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after purchasing an additional 33 shares in the last quarter. Argentarii LLC grew its holdings in shares of AppLovin by 1.5% in the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock valued at $699,000 after purchasing an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of AppLovin by 13.4% in the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $97,000 after purchasing an additional 43 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APP has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. UBS Group increased their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Oppenheimer reissued an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Wall Street Zen cut AppLovin from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Jefferies Financial Group raised their target price on AppLovin from $460.00 to $530.00 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, four have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $438.43.

Insider Buying and Selling at AppLovin

In related news, Director Barbara Messing sold 1,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total transaction of $573,690.00. Following the completion of the transaction, the director directly owned 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 document filed with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 34,766 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the transaction, the chief technology officer directly owned 70,889 shares of the company's stock, valued at $25,069,185.96. This represents a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Corporate insiders own 13.66% of the company's stock.

AppLovin Stock Up 0.5%

APP stock opened at $366.17 on Tuesday. The firm has a market cap of $123.91 billion, a PE ratio of 66.10, a PEG ratio of 2.16 and a beta of 2.42. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The firm's 50 day moving average price is $362.51 and its 200-day moving average price is $335.12. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data 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 return on equity of 224.65% and a net margin of 37.38%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company earned $0.67 earnings per share. The company's revenue was up 40.3% on a year-over-year basis. 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.

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