1,152 Shares in AppLovin Corporation $APP Bought by Bosun Asset Management LLC

Key Points

• Bosun Asset Management LLC has acquired **1,152 shares** of AppLovin Corporation (NASDAQ: APP) valued at approximately **$305,000** during the first quarter of 2023.
• AppLovin reported earnings of **$2.26 per share**, exceeding analysts’ expectations, though its revenue of **$1.26 billion** fell short of estimates.
• Wall Street analysts are generally optimistic about AppLovin, with a consensus rating of **"Moderate Buy"** and a price target of **$478.81**.

Bosun Asset Management LLC purchased a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,152 shares of the company's stock, valued at approximately $305,000.

A number of other institutional investors have also recently made changes to their positions in APP. Atala Financial Inc bought a new stake in shares of AppLovin during the first quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new stake in AppLovin during the 1st quarter worth $29,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin in the first quarter valued at about $27,000. Bartlett & CO. Wealth Management LLC purchased a new stake in AppLovin during the first quarter worth about $29,000. Finally, SouthState Corp acquired a new position in shares of AppLovin in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 35,000 shares of the company's stock in a transaction 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 sale, the insider directly owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. This represents a 11.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the transaction, the chief technology officer directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,158,288 shares of company stock valued at $515,437,023. Corporate insiders own 13.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APP. Jefferies Financial Group increased their target price on shares of AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Tuesday, August 26th. Morgan Stanley raised their price target on AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Piper Sandler boosted their price target on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and an average price target of $482.86.

AppLovin Price Performance

Shares of APP stock traded up $58.26 during trading hours on Monday, reaching $548.50. The company had a trading volume of 14,611,469 shares, compared to its average volume of 7,049,672. The company has a market capitalization of $185.53 billion, a price-to-earnings ratio of 77.64, a PEG ratio of 2.74 and a beta of 2.44. 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 12-month low of $84.73 and a 12-month high of $555.50. The stock has a fifty day moving average of $402.06 and a 200-day moving average of $347.07.

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

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.