Capital Advisors Inc. OK Invests $602,000 in AppLovin Corporation (NASDAQ:APP)

Capital Advisors Inc. OK acquired a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,273 shares of the company's stock, valued at approximately $602,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares during the period. Geode Capital Management LLC boosted its position in shares of AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after acquiring an additional 573,310 shares during the period. Invesco Ltd. lifted its position in AppLovin by 68.0% in the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after purchasing an additional 1,222,074 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after purchasing an additional 2,373,885 shares during the period. Finally, Alliancebernstein L.P. lifted its position in AppLovin by 193.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company's stock worth $882,469,000 after purchasing an additional 1,797,027 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of NASDAQ:APP traded down $0.25 during midday trading on Tuesday, reaching $344.75. 3,018,937 shares of the company traded hands, compared to its average volume of 6,197,434. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a 12 month low of $60.67 and a 12 month high of $525.15. The firm has a market capitalization of $116.66 billion, a price-to-earnings ratio of 62.23, a price-to-earnings-growth ratio of 2.04 and a beta of 2.42. The firm's fifty day moving average price is $353.55 and its two-hundred day moving average price is $334.17.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company's quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. On average, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, Director Herald Y. Chen sold 171,420 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $373.77, for a total transaction of $64,071,653.40. Following the transaction, the director directly owned 221,209 shares of the company's stock, valued at approximately $82,681,287.93. The trade was a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 34,766 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total value of $12,294,648.24. Following the transaction, the chief technology officer directly owned 70,889 shares in the company, valued at $25,069,185.96. This trade represents a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on APP. Benchmark reiterated a "buy" rating and set a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. Piper Sandler reiterated an "overweight" rating and set a $470.00 price objective (up from $455.00) on shares of AppLovin in a research note on Thursday, June 26th. Wells Fargo & Company increased their price objective on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Loop Capital reiterated a "buy" rating and set a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Finally, The Goldman Sachs Group increased their price objective on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $438.43.

AppLovin 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.