EULAV Asset Management Buys New Position in AppLovin Corporation (NASDAQ:APP)

EULAV Asset Management bought a new stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,012 shares of the company's stock, valued at approximately $3,978,000.

A number of other institutional investors have also recently modified their holdings of APP. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at $25,000. Atala Financial Inc bought a new stake in shares of AppLovin during the 1st quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in shares of AppLovin during the 1st quarter valued at $27,000. Tucker Asset Management LLC bought a new stake in shares of AppLovin during the 4th quarter valued at $28,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of AppLovin during the 1st quarter valued at $29,000. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 34,766 shares of the company's stock in a transaction dated 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 sale, the chief technology officer owned 70,889 shares in the company, valued at $25,069,185.96. This 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 the SEC website. Also, Director Dawson Alyssa Harvey sold 513 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the sale, the director owned 3,451 shares in the company, valued at approximately $1,450,455.30. The trade was a 12.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Corporate insiders own 13.66% of the company's stock.

AppLovin Trading Up 1.0%

Shares of APP stock traded up $3.36 on Monday, hitting $345.00. The company had a trading volume of 3,155,375 shares, compared to its average volume of 6,210,138. The firm has a market cap of $116.74 billion, a P/E ratio of 62.27, a P/E/G ratio of 2.04 and a beta of 2.42. The stock's 50-day moving average is $352.35 and its two-hundred day moving average is $334.14. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The business's quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. On average, equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on APP shares. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. Morgan Stanley boosted their price target on AppLovin from $420.00 to $460.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. JPMorgan Chase & Co. boosted their price target on AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Scotiabank began coverage on AppLovin in a report on Monday. They set an "outperform" rating and a $430.00 price target for the company. Finally, HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently 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.