Cookson Peirce & Co. Inc. Buys 583 Shares of AppLovin Corporation $APP

Key Points

• Cookson Peirce & Co. Inc. increased its stake in AppLovin Corporation by 8.2%, bringing its total shares to 7,664 valued at approximately $2.68 million.
• Several institutional investors modified their holdings in AppLovin, with 41.85% of the stock now owned by institutional investors and hedge funds.
• Recent analyst ratings for AppLovin show a strong positive outlook, with target prices ranging from $500 to $850 and an average rating of "Moderate Buy."

Cookson Peirce & Co. Inc. increased its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,664 shares of the company's stock after acquiring an additional 583 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in AppLovin were worth $2,683,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of APP. Revolve Wealth Partners LLC bought a new position in AppLovin during the 4th quarter valued at $294,000. Bison Wealth LLC purchased a new stake in shares of AppLovin during the 4th quarter valued at $239,000. Cambridge Investment Research Advisors Inc. increased its position in shares of AppLovin by 44.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,105 shares of the company's stock valued at $6,652,000 after purchasing an additional 7,778 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in AppLovin by 17.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 22,562 shares of the company's stock worth $5,978,000 after acquiring an additional 3,332 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in AppLovin by 3.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 18,944 shares of the company's stock worth $5,020,000 after acquiring an additional 694 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Dawson Alyssa Harvey sold 350 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $487.97, for a total transaction of $170,789.50. Following the transaction, the director directly owned 3,150 shares of the company's stock, valued at approximately $1,537,105.50. The trade was a 10.00% 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, insider Victoria Valenzuela sold 35,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the transaction, the insider directly owned 269,955 shares in the company, valued at $135,579,499.65. This trade represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Company insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on APP shares. Piper Sandler lifted their price objective on AppLovin from $500.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, September 26th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Tuesday, August 26th. Citigroup lifted their price objective on AppLovin from $600.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Morgan Stanley lifted their target price on AppLovin from $480.00 to $750.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Finally, Wedbush lifted their target price on AppLovin from $725.00 to $745.00 and gave the company an "outperform" rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $605.13.

AppLovin Stock Performance

NASDAQ:APP opened at $552.64 on Wednesday. The business has a 50 day moving average of $559.97 and a 200 day moving average of $416.72. The company has a market capitalization of $186.93 billion, a price-to-earnings ratio of 78.50, a PEG ratio of 3.07 and a beta of 2.53. AppLovin Corporation has a 1-year low of $157.88 and a 1-year high of $745.61. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.89 EPS. AppLovin's quarterly revenue was up 77.1% compared to the same quarter last year. On average, sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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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