Cynosure Group LLC Makes New $337,000 Investment in AppLovin Corporation (NASDAQ:APP)

Cynosure Group LLC acquired a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,271 shares of the company's stock, valued at approximately $337,000.

Other institutional investors also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC grew its stake in AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AppLovin by 62.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after purchasing an additional 66,453 shares during the period. Yousif Capital Management LLC boosted its stake in shares of AppLovin by 3.5% in the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after purchasing an additional 119 shares during the period. Peak Retirement Planning Inc. purchased a new position in shares of AppLovin in the fourth quarter valued at $969,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of AppLovin by 3.0% in the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock valued at $1,106,000 after purchasing an additional 121 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APP has been the subject of several analyst reports. Scotiabank upped their target price on shares of AppLovin from $430.00 to $450.00 and gave the company a "sector outperform" rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research note on Thursday. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday. Wedbush restated an "outperform" rating and issued a $620.00 target price on shares of AppLovin in a research note on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of AppLovin from $405.00 to $480.00 and gave the company an "overweight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and an average target price of $472.33.

AppLovin Stock Up 4.3%

APP stock opened at $455.98 on Monday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $525.15. The firm's 50-day simple moving average is $366.78 and its 200 day simple moving average is $339.75. The stock has a market cap of $154.30 billion, a PE ratio of 64.77, a price-to-earnings-growth ratio of 2.60 and a beta of 2.43.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data 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 net margin of 45.72% and a return on equity of 252.67%. The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the company earned $0.89 EPS. The company's revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 9,714 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $423.00, for a total value of $4,109,022.00. Following the sale, the chief financial officer owned 192,421 shares of the company's stock, valued at $81,394,083. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the completion of the sale, the director directly owned 3,451 shares in the company, valued at approximately $1,450,455.30. This trade represents a 12.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,200,968 shares of company stock worth $450,825,540. 13.66% of the stock is owned by company insiders.

About AppLovin

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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