Financiere des Professionnels Fonds d investissement inc. Acquires Shares of 1,375 AppLovin Corporation $APP

Key Points

• Financiere des Professionnels Fonds d'investissement inc. has acquired a new position in AppLovin Corporation, purchasing 1,375 shares valued at approximately $481,000.
• CTO Vasily Shikin and CEO Arash Adam Foroughi both recently sold significant portions of their holdings, with transactions totaling over $24.6 million in stock sales.
• AppLovin’s stock has seen price target changes from various analysts, with estimates ranging from $400 to $725, reflecting a general "Moderate Buy" consensus among analysts.

Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,375 shares of the company's stock, valued at approximately $481,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Triumph Capital Management acquired a new position in shares of AppLovin during the 2nd quarter worth approximately $259,000. Lifestyle Asset Management Inc. acquired a new position in AppLovin in the second quarter valued at approximately $1,818,000. Bay Rivers Group lifted its holdings in AppLovin by 13.8% in the second quarter. Bay Rivers Group now owns 2,450 shares of the company's stock valued at $858,000 after acquiring an additional 297 shares during the last quarter. Beacon Financial Group lifted its holdings in AppLovin by 3.0% in the second quarter. Beacon Financial Group now owns 2,103 shares of the company's stock valued at $736,000 after acquiring an additional 61 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in AppLovin by 147.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 312 shares of the company's stock valued at $109,000 after acquiring an additional 186 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 4.5%

Shares of AppLovin stock traded up $28.07 during trading hours on Friday, reaching $649.59. 73,086,587 shares of the company were exchanged, compared to its average volume of 6,614,834. AppLovin Corporation has a 1 year low of $123.51 and a 1 year high of $653.06. The stock's fifty day moving average is $451.52 and its 200 day moving average is $363.67. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The firm has a market cap of $219.72 billion, a PE ratio of 92.27, a PEG ratio of 3.60 and a beta of 2.44.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data 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. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. The company's revenue was up 77.1% on a year-over-year basis. As a group, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on APP shares. Morgan Stanley upped their price objective on AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Tuesday, August 26th. Benchmark upped their price objective on AppLovin from $525.00 to $640.00 and gave the company a "buy" rating in a report on Monday, September 15th. Jefferies Financial Group boosted their target price on AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Wells Fargo & Company boosted their target price on AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Two 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 issued a Sell rating to the company's stock. According to MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $501.95.

Insider Activity

In related news, Director Eduardo Vivas sold 125,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Insiders own 13.66% of the company's stock.

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.