Blue Trust Inc. Grows Stock Position in AppLovin Corporation $APP

Blue Trust Inc. boosted its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 29.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,132 shares of the company's stock after buying an additional 1,167 shares during the quarter. Blue Trust Inc.'s holdings in AppLovin were worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Stonebridge Financial Group LLC purchased a new position in shares of AppLovin in the second quarter valued at $242,000. IFP Advisors Inc grew its position in shares of AppLovin by 76.6% in the second quarter. IFP Advisors Inc now owns 3,253 shares of the company's stock valued at $1,148,000 after purchasing an additional 1,411 shares in the last quarter. Callan Family Office LLC grew its position in shares of AppLovin by 185.7% in the second quarter. Callan Family Office LLC now owns 8,521 shares of the company's stock valued at $2,983,000 after purchasing an additional 5,538 shares in the last quarter. Blair William & Co. IL grew its position in shares of AppLovin by 58.6% in the second quarter. Blair William & Co. IL now owns 153,178 shares of the company's stock valued at $53,624,000 after purchasing an additional 56,582 shares in the last quarter. Finally, Copperwynd Financial LLC grew its position in shares of AppLovin by 4.9% in the second quarter. Copperwynd Financial LLC now owns 8,434 shares of the company's stock valued at $2,953,000 after purchasing an additional 391 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares of the company's stock, valued at $135,579,499.65. The trade was a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the sale, the chief executive officer directly 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. In the last three months, insiders sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is currently owned by company insiders.

AppLovin Trading Down 5.1%

Shares of APP stock opened at $569.89 on Friday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The business has a 50-day moving average price of $537.64 and a two-hundred day moving average price of $400.57. AppLovin Corporation has a 12-month low of $139.40 and a 12-month high of $745.61. The firm has a market cap of $192.77 billion, a P/E ratio of 80.95, a price-to-earnings-growth ratio of 3.26 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company's revenue was up 77.1% compared to the same quarter last year. Equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on APP shares. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Tuesday, August 26th. Piper Sandler boosted their target price on AppLovin from $500.00 to $740.00 and gave the stock an "overweight" rating in a research report on Friday, September 26th. Wall Street Zen cut AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Phillip Securities upgraded AppLovin to a "moderate buy" rating in a research report on Monday, September 29th. Finally, Wedbush boosted their target price on AppLovin from $725.00 to $745.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $597.38.

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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