8,043 Shares in AppLovin Corporation (NASDAQ:APP) Bought by Copperwynd Financial LLC

Copperwynd Financial LLC bought a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,043 shares of the company's stock, valued at approximately $2,131,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new position in shares of AppLovin during the fourth quarter worth approximately $294,000. Proficio Capital Partners LLC purchased a new position in shares of AppLovin during the fourth quarter worth approximately $474,000. Commonwealth Equity Services LLC grew its position in AppLovin by 25.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,749 shares of the company's stock valued at $4,128,000 after buying an additional 2,565 shares during the last quarter. Corient Private Wealth LLC grew its position in AppLovin by 15.3% in the 4th quarter. Corient Private Wealth LLC now owns 19,556 shares of the company's stock valued at $5,986,000 after buying an additional 2,592 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in AppLovin by 9.3% in the 4th quarter. Parallel Advisors LLC now owns 2,244 shares of the company's stock valued at $727,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

APP has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of AppLovin from $420.00 to $460.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Scotiabank raised AppLovin to a "strong-buy" rating in a research note on Tuesday, July 8th. Benchmark reissued a "buy" rating and issued a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Wells Fargo & Company boosted their target price on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Loop Capital restated a "buy" rating and issued a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $438.43.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 34,766 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the completion of the transaction, the chief technology officer directly owned 70,889 shares of the company's stock, valued at $25,069,185.96. This trade represents a 32.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 100,000 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $367.51, for a total value of $36,751,000.00. Following the transaction, the chief executive officer directly owned 2,760,363 shares of the company's stock, valued at approximately $1,014,461,006.13. This represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock worth $455,062,980 in the last quarter. Insiders own 13.66% of the company's stock.

AppLovin Trading Up 0.2%

NASDAQ:APP traded up $0.68 on Friday, reaching $364.46. The company's stock had a trading volume of 4,818,310 shares, compared to its average volume of 6,289,545. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market cap of $123.33 billion, a PE ratio of 65.79, a PEG ratio of 2.16 and a beta of 2.42. The business's 50-day moving average price is $362.51 and its two-hundred day moving average price is $335.17. AppLovin Corporation has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.22. The firm 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 business's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. Equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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.