Family Investment Center Inc. Takes $223,000 Position in AppLovin Corporation $APP

Key Points

• Family Investment Center Inc. has acquired a new stake in AppLovin Corporation, purchasing 636 shares valued at approximately $223,000.
• AppLovin recently reported earnings of $2.26 per share, exceeding analysts' expectations, though its revenue of $1.26 billion fell short of estimates.
• Equities analysts have mixed ratings on AppLovin, with plans to boost the price target for its shares, reflecting optimism despite recent performance fluctuations.

Family Investment Center Inc. bought a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 636 shares of the company's stock, valued at approximately $223,000.

Several other institutional investors also recently bought and sold shares of APP. Atala Financial Inc purchased a new position in AppLovin in the 1st quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin in the first quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin during the first quarter worth approximately $29,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of AppLovin during the first quarter worth approximately $29,000. Finally, SouthState Corp acquired a new stake in shares of AppLovin during the first quarter worth approximately $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Down 0.9%

NASDAQ:APP opened at $643.50 on Tuesday. The firm has a market capitalization of $217.66 billion, a price-to-earnings ratio of 91.41, a price-to-earnings-growth ratio of 3.60 and a beta of 2.44. AppLovin Corporation has a twelve month low of $124.59 and a twelve month high of $657.00. The stock's 50 day moving average price is $457.27 and its two-hundred day moving average price is $367.01. 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 (NASDAQ:APP - Get Free Report) last posted its earnings results 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. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The firm's revenue was up 77.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. Equities research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on APP shares. Wall Street Zen cut AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Wedbush boosted their price target on shares of AppLovin from $620.00 to $725.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Zacks Research upgraded AppLovin to a "strong-buy" rating in a report on Friday, August 8th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Tuesday, August 26th. Finally, Piper Sandler increased their price objective on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $501.95.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 35,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the transaction, the insider directly owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 125,000 shares of the business's stock in a transaction that occurred 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 directly owned 7,283,292 shares in the company, valued at $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock worth $514,863,333 in the last three months. 13.66% of the stock is owned by 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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