6,737 Shares in AppLovin Corporation (NASDAQ:APP) Bought by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC acquired a new stake in AppLovin Corporation, purchasing 6,737 shares valued at approximately $1.785 million during the first quarter.
• Several institutional investors have significantly increased their stakes in AppLovin, with FMR LLC growing its position by 75.5% to own over $4.48 billion in shares.
• AppLovin reported impressive earnings, with a 40.3% year-over-year revenue growth and EPS of $1.67, surpassing estimates and indicating strong financial performance.

Foundations Investment Advisors LLC acquired a new stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,737 shares of the company's stock, valued at approximately $1,785,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. FMR LLC increased its stake in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares during the period. Baillie Gifford & Co. boosted its position in AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after buying an additional 1,185,859 shares during the period. Geode Capital Management LLC boosted its holdings in shares of AppLovin by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock worth $1,462,144,000 after purchasing an additional 573,310 shares during the period. Invesco Ltd. boosted its holdings in shares of AppLovin by 68.0% during the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after purchasing an additional 1,222,074 shares during the period. Finally, Dynasty Wealth Management LLC lifted its holdings in AppLovin by 117,664.4% in the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after buying an additional 2,700,399 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler reiterated an "overweight" rating and issued a $470.00 price objective (up previously from $455.00) on shares of AppLovin in a report on Thursday, June 26th. Citigroup restated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Jefferies Financial Group raised their target price on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Oppenheimer restated an "outperform" rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, Scotiabank raised AppLovin to a "strong-buy" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $447.57.

AppLovin Stock Performance

Shares of APP traded up $1.68 during mid-day trading on Wednesday, hitting $363.31. 2,215,146 shares of the company traded hands, compared to its average volume of 3,739,527. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a 50-day moving average price of $362.17 and a two-hundred day moving average price of $336.61. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15. The stock has a market cap of $122.94 billion, a price-to-earnings ratio of 65.58, a P/E/G ratio of 2.15 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The business 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 quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. Equities analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the completion of the sale, the director owned 3,451 shares of the company's stock, valued at approximately $1,450,455.30. The trade was a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 34,766 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $353.64, for a total value of $12,294,648.24. Following the sale, the chief technology officer directly owned 70,889 shares of the company's stock, valued at $25,069,185.96. This represents a 32.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock valued at $455,062,980 in the last 90 days. 13.66% of the stock is owned by company insiders.

AppLovin Company 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.