Dynamic Advisor Solutions LLC Takes Position in AppLovin Corporation (NASDAQ:APP)

Dynamic Advisor Solutions LLC purchased a new stake in shares of 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 (SEC). The firm purchased 1,061 shares of the company's stock, valued at approximately $281,000.

A number of other institutional investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the 4th quarter valued at approximately $25,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC acquired a new position in shares of AppLovin during the fourth quarter worth approximately $28,000. Smithfield Trust Co bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $32,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $36,000. Institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

AppLovin stock traded down $19.67 during mid-day trading on Friday, hitting $324.70. 8,710,201 shares of the company were exchanged, compared to its average volume of 6,127,427. AppLovin Corporation has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. The business has a fifty day moving average of $331.71 and a 200 day moving average of $334.73. The company has a market capitalization of $109.88 billion, a PE ratio of 58.61, a price-to-earnings-growth ratio of 2.00 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm's revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. As a group, sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on APP shares. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Oppenheimer restated an "outperform" rating and set a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Morgan Stanley upped their price objective on shares of AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Benchmark reiterated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Finally, Citigroup reissued a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $438.10.

Insider Transactions at AppLovin

In related news, Director Craig Scott Billings sold 12,000 shares of AppLovin stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $353.12, for a total value of $4,237,440.00. Following the completion of the transaction, the director now directly owns 2,987 shares of the company's stock, valued at $1,054,769.44. The trade was a 80.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the sale, the director now directly owns 221,209 shares in the company, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock valued at $455,062,980 in the last three months. 13.66% of the stock is owned by corporate insiders.

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.