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Cambridge Investment Research Advisors Inc. Purchases 7,778 Shares of AppLovin Corporation (NASDAQ:APP)

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Cambridge Investment Research Advisors Inc. increased its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 44.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,105 shares of the company's stock after acquiring an additional 7,778 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in AppLovin were worth $6,652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of APP. HighPoint Advisor Group LLC raised its stake in shares of AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after purchasing an additional 31 shares during the period. Quadrant Capital Group LLC grew its holdings in AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after buying an additional 33 shares in the last quarter. Forum Financial Management LP increased its position 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 buying an additional 33 shares during the period. Truvestments Capital LLC lifted its holdings in shares of AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock worth $1,696,000 after buying an additional 38 shares in the last quarter. Finally, Versant Capital Management Inc lifted 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 worth $97,000 after buying an additional 43 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $16.30 during midday trading on Monday, reaching $350.08. 8,199,327 shares of the company were exchanged, compared to its average volume of 6,207,667. The stock has a market cap of $118.46 billion, a P/E ratio of 63.19, a PEG ratio of 1.99 and a beta of 2.53. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15. The stock has a fifty day simple moving average of $345.98 and a 200 day simple moving average of $333.86.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm posted $0.67 EPS. AppLovin's revenue was up 40.3% on a year-over-year basis. On average, research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Herald Y. Chen sold 400,000 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the sale, the director directly owned 221,209 shares of the company's stock, valued at $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 34,766 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the transaction, the chief technology officer owned 70,889 shares in the company, valued at $25,069,185.96. This represents a 32.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,212,968 shares of company stock worth $455,062,980. 13.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Oppenheimer reissued an "outperform" rating and set a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Arete Research set a $200.00 price objective on shares of AppLovin in a research report on Wednesday, March 5th. Morgan Stanley raised their target price on shares of AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, Citigroup reiterated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $438.85.

Check Out Our Latest Research Report on APP

AppLovin Profile

(Free Report)

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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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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