Global Strategic Investment Solutions LLC Buys 461 Shares of AppLovin Corporation $APP

Key Points

• Global Strategic Investment Solutions LLC increased its stake in AppLovin Corporation by 33.2% during Q2, owning a total of 1,848 shares valued at approximately $647,000.
• Significant increases in holdings by institutional investors were noted, including Vanguard Group Inc. with a 7.3% increase, owning over $4.7 billion in shares.
• AppLovin reported a 77.1% year-over-year increase in revenue for the most recent quarter, with earnings per share of $2.26, exceeding analyst expectations.

Global Strategic Investment Solutions LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 33.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,848 shares of the company's stock after acquiring an additional 461 shares during the quarter. Global Strategic Investment Solutions LLC's holdings in AppLovin were worth $647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after acquiring an additional 1,213,536 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock valued at $1,745,752,000 after acquiring an additional 1,769,400 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after acquiring an additional 1,185,859 shares in the last quarter. Invesco Ltd. increased its holdings in shares of AppLovin by 32.9% during the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock valued at $1,062,876,000 after acquiring an additional 992,316 shares in the last quarter. Finally, Kensico Capital Management Corp increased its holdings in shares of AppLovin by 12.9% during the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company's stock valued at $762,849,000 after acquiring an additional 328,000 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer directly owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the firm's stock in a transaction dated 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 completion of 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. In the last three months, insiders sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by company insiders.

AppLovin Trading Down 0.1%

Shares of NASDAQ:APP opened at $682.76 on Friday. The stock has a market capitalization of $230.94 billion, a price-to-earnings ratio of 96.98, a PEG ratio of 3.74 and a beta of 2.53. 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 stock's 50-day simple moving average is $514.58 and its two-hundred day simple moving average is $391.46. AppLovin Corporation has a 52-week low of $135.50 and a 52-week high of $745.61.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on APP shares. Piper Sandler raised their price target on AppLovin from $500.00 to $740.00 and gave the company an "overweight" rating in a report on Friday, September 26th. Bank of America raised their price target on AppLovin from $580.00 to $860.00 and gave the company a "buy" rating in a report on Wednesday. UBS Group lifted their price objective on AppLovin from $540.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Oppenheimer lifted their price objective on AppLovin from $500.00 to $740.00 and gave the stock an "outperform" rating in a report on Tuesday, September 23rd. Finally, Phillip Securities upgraded AppLovin to a "moderate buy" rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $578.86.

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.

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