EFG Asset Management North America Corp. Makes New $1.87 Million Investment in AppLovin Corporation $APP

Key Points

• EFG Asset Management North America Corp. has invested approximately $1.87 million in AppLovin Corporation, acquiring 7,079 shares in the first quarter of the year.
• Significant insider sales were reported, with CTO Vasily Shikin selling 30,000 shares for over $13 million on August 22, and another insider, Victoria Valenzuela, selling 15,000 shares for about $6.75 million shortly thereafter.
• Analyst ratings for AppLovin show a mix of optimism and caution, with two strong buy ratings, eighteen buy ratings, and a recent downgrade to a hold rating by Wall Street Zen, reflecting divergent views on its stock performance.

EFG Asset Management North America Corp. 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 and Exchange Commission (SEC). The institutional investor bought 7,079 shares of the company's stock, valued at approximately $1,874,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new position in shares of AppLovin in the fourth quarter worth about $294,000. Bison Wealth LLC acquired a new position in shares of AppLovin during the 4th quarter worth approximately $239,000. Benjamin Edwards Inc. increased its position in shares of AppLovin by 11.8% during the fourth quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company's stock worth $1,009,000 after acquiring an additional 329 shares during the period. BOKF NA lifted its position in AppLovin by 22.3% in the fourth quarter. BOKF NA now owns 9,223 shares of the company's stock valued at $2,937,000 after purchasing an additional 1,680 shares during the period. Finally, Concentric Capital Strategies LP purchased a new stake in shares of AppLovin during the 4th quarter valued at $2,168,000. 41.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on APP shares. Jefferies Financial Group increased their price target on shares of AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. BTIG Research raised their price target on AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen cut AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Morgan Stanley lifted their price objective on AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $482.86.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the transaction, the director owned 181,929 shares of the company's stock, valued at $78,682,473.21. This represents a 52.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 125,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,158,288 shares of company stock worth $515,437,023 in the last ninety days. 13.66% of the stock is owned by insiders.

AppLovin Stock Performance

APP traded up $56.80 on Monday, hitting $547.04. The company's stock had a trading volume of 16,469,639 shares, compared to its average volume of 7,058,876. The company's 50 day simple moving average is $402.06 and its 200-day simple moving average is $347.07. The firm has a market cap of $185.04 billion, a P/E ratio of 77.70, a price-to-earnings-growth ratio of 2.74 and a beta of 2.44. 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 12 month low of $84.73 and a 12 month high of $555.50.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business's revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. Analysts forecast that AppLovin Corporation will post 6.87 EPS for the current 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.