Berbice Capital Management LLC Has $722,000 Holdings in AppLovin Corporation (NASDAQ:APP)

Berbice Capital Management LLC raised its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 39.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,725 shares of the company's stock after buying an additional 775 shares during the quarter. AppLovin accounts for 0.6% of Berbice Capital Management LLC's investment portfolio, making the stock its 24th largest holding. Berbice Capital Management LLC's holdings in AppLovin were worth $722,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

APP has been the subject of several recent research reports. Benchmark restated a "buy" rating and set a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. Wedbush upgraded AppLovin to a "strong-buy" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. upped their price target on AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Citigroup reiterated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Finally, Jefferies Financial Group upped their price target on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $438.43.

AppLovin Stock Down 3.2%

Shares of NASDAQ APP opened at $335.10 on Friday. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15. 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 business's fifty day moving average price is $358.23 and its 200-day moving average price is $334.33. The stock has a market capitalization of $113.39 billion, a PE ratio of 60.49, a P/E/G ratio of 2.06 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating 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 firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. On average, equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, 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 sale, the chief technology officer owned 70,889 shares of the company's stock, valued at approximately $25,069,185.96. This represents a 32.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 100,000 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $419.91, for a total value of $41,991,000.00. Following the sale, the director directly owned 181,929 shares in the company, valued at $76,393,806.39. This trade represents a 35.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,212,968 shares of company stock worth $455,062,980 in the last three months. 13.66% of the stock is currently owned by corporate insiders.

About AppLovin

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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