HB Wealth Management LLC Has $1.52 Million Stake in AppLovin Corporation $APP

Key Points

• HB Wealth Management LLC has increased its stake in AppLovin Corporation by 33.4%, now owning 4,346 shares worth $1.52 million.
• AppLovin reported a $2.26 EPS for the last quarter, exceeding analysts' consensus estimates, with a revenue of $1.26 billion.
• Insider transactions show significant share sales, with the CTO selling 30,000 shares valued at over $13 million and a director selling 125,000 shares worth $58 million.

HB Wealth Management LLC grew its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 33.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,346 shares of the company's stock after purchasing an additional 1,087 shares during the period. HB Wealth Management LLC's holdings in AppLovin were worth $1,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new stake in AppLovin in the 4th quarter worth $294,000. Bison Wealth LLC acquired a new stake in AppLovin in the 4th quarter worth $239,000. NBC Securities Inc. acquired a new stake in AppLovin in the 1st quarter worth $34,000. Merit Financial Group LLC lifted its holdings in shares of AppLovin by 657.1% during the 1st quarter. Merit Financial Group LLC now owns 7,147 shares of the company's stock worth $1,894,000 after acquiring an additional 6,203 shares during the period. Finally, Matrix Trust Co bought a new position in shares of AppLovin during the 1st quarter worth about $194,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Down 2.9%

Shares of NASDAQ APP opened at $683.64 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a 52-week low of $130.54 and a 52-week high of $745.61. The firm has a 50 day moving average price of $508.20 and a 200 day moving average price of $388.02. The stock has a market cap of $231.24 billion, a P/E ratio of 97.11, a P/E/G ratio of 3.86 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS 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 net margin of 45.72% and a return on equity of 252.67%. AppLovin's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. Analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were 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 $1,470,280,707.28. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 125,000 shares of the firm's stock in a transaction dated 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 directly owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,156,788 shares of company stock worth $514,863,333. Corporate insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APP. Citigroup raised their price objective on shares of AppLovin from $600.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company raised their price objective on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Zacks Research raised shares of AppLovin to a "strong-buy" rating in a report on Friday, August 8th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of AppLovin in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company 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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