HBW Advisory Services LLC Takes Position in AppLovin Corporation $APP

Key Points

• HBW Advisory Services LLC has acquired approximately $3.02 million worth of AppLovin Corporation stock, adding 8,629 shares to its portfolio during the second quarter.
• AppLovin reported a quarterly EPS of $2.26, exceeding analysts' expectations and showcasing a 77.1% year-over-year growth in revenue.
• Despite strong earnings, Wall Street analysts have mixed ratings for AppLovin's stock, with a consensus target price of $487.86 and some recent downgrades from "buy" to "hold."

HBW Advisory Services LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,629 shares of the company's stock, valued at approximately $3,021,000.

A number of other institutional investors also recently modified their holdings of the company. Kingswood Wealth Advisors LLC boosted its stake in AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after acquiring an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in AppLovin by 62.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after buying an additional 66,453 shares during the last quarter. Yousif Capital Management LLC raised its holdings in AppLovin by 3.5% during the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after buying an additional 119 shares during the last quarter. Peak Retirement Planning Inc. acquired a new position in AppLovin during the fourth quarter worth $969,000. Finally, Assenagon Asset Management S.A. raised its holdings in AppLovin by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after buying an additional 121 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $582.00 on Friday. AppLovin Corporation has a 52-week low of $105.94 and a 52-week high of $587.88. The company has a 50-day simple moving average of $424.50 and a 200 day simple moving average of $353.48. 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 company has a market capitalization of $196.86 billion, a PE ratio of 82.67, a price-to-earnings-growth ratio of 3.19 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 (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company posted $0.89 earnings per share. The firm's quarterly revenue was up 77.1% compared to the same quarter last year. On average, research analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the completion of the transaction, the director owned 181,929 shares in the company, valued at $78,682,473.21. This trade represents a 52.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company's stock, valued at $3,394,014,072. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APP shares. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup restated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Wedbush increased their target price on shares of AppLovin from $620.00 to $725.00 and gave the company an "outperform" rating in a report on Friday. Finally, Scotiabank reiterated an "outperform" rating on shares of AppLovin in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $487.86.

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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