Capital Investment Advisory Services LLC Takes Position in AppLovin Corporation (NASDAQ:APP)

Capital Investment Advisory Services LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,687 shares of the company's stock, valued at approximately $447,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. HighPoint Advisor Group LLC grew its stake 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 worth $590,000 after buying an additional 31 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after buying an additional 33 shares during the last quarter. Forum Financial Management LP grew its stake in shares of AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after purchasing an additional 33 shares during the last quarter. Truvestments Capital LLC grew its stake 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 purchasing an additional 38 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake 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 purchasing an additional 43 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In related news, Director Dawson Alyssa Harvey sold 513 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the sale, the director directly owned 3,451 shares in the company, valued at approximately $1,450,455.30. This represents a 12.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 9,714 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the sale, the chief financial officer owned 192,421 shares in the company, valued at $81,394,083. The trade was a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock worth $455,062,980 in the last ninety days. Insiders own 13.66% of the company's stock.

AppLovin Trading Up 1.3%

Shares of APP stock opened at $340.24 on Monday. AppLovin Corporation has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a 50-day simple moving average of $352.35 and a two-hundred day simple moving average of $334.14. The company has a market capitalization of $115.13 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 2.04 and a beta of 2.42. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on APP shares. Benchmark reissued a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. UBS Group boosted their target price on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Loop Capital restated a "buy" rating and issued a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $438.85.

AppLovin Company 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.

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