AppLovin Corporation $APP Shares Bought by Beck Bode LLC

Key Points

• Beck Bode LLC increased its stake in AppLovin Corporation by 3.7%, acquiring an additional 701 shares, bringing its total holdings to 19,495 shares valued at approximately $5.17 million.
• Insider trading activity included CTO Vasily Shikin selling 30,000 shares for $13.13 million and CEO Arash Adam Foroughi selling 90,000 shares for $37.89 million in August.
• Analysts have mixed ratings on AppLovin, with Wells Fargo raising its price target to $491 and Zacks upgrading it to a "strong-buy," while Wall Street Zen downgraded it to a "hold."

Beck Bode LLC boosted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,495 shares of the company's stock after buying an additional 701 shares during the period. Beck Bode LLC's holdings in AppLovin were worth $5,166,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its stake in AppLovin by 5.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after buying an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after purchasing an additional 66,453 shares during the period. Yousif Capital Management LLC raised its holdings in shares of AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after purchasing an additional 119 shares during the period. Peak Retirement Planning Inc. purchased a new position in shares of AppLovin in the 4th quarter worth about $969,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after purchasing an additional 121 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup restated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Morgan Stanley raised their price objective on AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Oppenheimer restated an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. UBS Group raised their price objective on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group raised their price objective on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $478.81.

AppLovin Stock Down 1.1%

Shares of NASDAQ:APP traded down $5.16 during mid-day trading on Friday, hitting $478.59. 5,135,135 shares of the company traded hands, compared to its average volume of 6,516,874. The firm has a market cap of $161.88 billion, a P/E ratio of 67.98, a PEG ratio of 2.70 and a beta of 2.43. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a 52-week low of $82.51 and a 52-week high of $525.15. The firm's 50 day simple moving average is $387.40 and its 200 day simple moving average is $348.32.

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

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $450.00, for a total transaction of $6,750,000.00. Following the completion of the sale, the insider owned 304,955 shares in the company, valued at $137,229,750. This trade represents a 4.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 26,200 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total value of $11,534,026.00. Following the sale, the chief executive officer owned 2,590,054 shares of the company's stock, valued at approximately $1,140,219,472.42. This trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,236,152 shares of company stock worth $545,240,378 in the last 90 days. 13.66% of the stock is owned by corporate insiders.

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.