Dynasty Wealth Management LLC Purchases 2,700,399 Shares of AppLovin Corporation (NASDAQ:APP)

Dynasty Wealth Management LLC raised its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 117,664.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,702,694 shares of the company's stock after purchasing an additional 2,700,399 shares during the period. AppLovin comprises 10.2% of Dynasty Wealth Management LLC's portfolio, making the stock its biggest position. Dynasty Wealth Management LLC owned 0.80% of AppLovin worth $716,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of APP. HighPoint Advisor Group LLC grew its stake in AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after purchasing an additional 31 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after purchasing an additional 33 shares during the last quarter. Forum Financial Management LP increased its holdings 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 valued at $1,223,000 after purchasing an additional 33 shares during the last quarter. Argentarii LLC increased its holdings in shares of AppLovin by 1.5% in the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock valued at $699,000 after purchasing an additional 40 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in AppLovin by 13.4% during the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $97,000 after acquiring an additional 43 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 100,000 shares of AppLovin stock in a transaction on Friday, June 6th. The shares were sold at an average price of $419.91, for a total transaction of $41,991,000.00. Following the completion of the sale, the director owned 181,929 shares of the company's stock, valued at $76,393,806.39. This trade represents a 35.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 34,766 shares of AppLovin stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the completion of the sale, the chief technology officer directly owned 70,889 shares of the company's stock, valued at approximately $25,069,185.96. The trade was a 32.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,212,968 shares of company stock worth $455,062,980. 13.66% of the stock is currently owned by company insiders.

AppLovin Price Performance

AppLovin stock traded up $0.68 during mid-day trading on Friday, hitting $364.46. The company's stock had a trading volume of 4,818,310 shares, compared to its average volume of 6,256,978. 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 stock has a market capitalization of $123.33 billion, a P/E ratio of 65.79, a P/E/G ratio of 2.12 and a beta of 2.42. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15. The stock's fifty day moving average price is $361.80 and its two-hundred day moving average price is $334.81.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on APP shares. FBN Securities started coverage on AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target for the company. Citigroup reiterated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. Loop Capital restated a "buy" rating and issued a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. HSBC set a $436.00 price objective on AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $438.43.

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.