AppLovin Corporation $APP Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in AppLovin Corporation by 139.2%, acquiring an additional 55,071 shares to bring its total holdings to 94,633 shares worth $25,075,000.
• AppLovin reported a Q2 earnings per share of $2.26, exceeding estimates, although its revenue was slightly below expectations at $1.26 billion.
• Recent analyst ratings highlight a positive outlook for AppLovin, with many firms increasing their price targets, indicating an overall “Moderate Buy” average rating among analysts.

Ieq Capital LLC lifted its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 139.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,633 shares of the company's stock after acquiring an additional 55,071 shares during the period. Ieq Capital LLC's holdings in AppLovin were worth $25,075,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after buying an additional 1,769,400 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after buying an additional 1,185,859 shares during the period. Invesco Ltd. boosted its holdings in AppLovin by 32.9% in 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 during the last quarter. Finally, Dynasty Wealth Management LLC boosted its holdings in AppLovin by 117,664.4% in the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock valued at $716,133,000 after acquiring an additional 2,700,399 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Up 4.5%

NASDAQ:APP traded up $20.81 on Thursday, reaching $483.75. The stock had a trading volume of 5,893,324 shares, compared to its average volume of 6,618,987. The company has a 50-day moving average of $384.32 and a 200 day moving average of $347.60. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The stock has a market cap of $163.63 billion, a P/E ratio of 68.71, a price-to-earnings-growth ratio of 2.59 and a beta of 2.43. AppLovin Corporation has a 12-month low of $82.51 and a 12-month high of $525.15.

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 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 company's revenue was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 earnings per share. On average, research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the sale, the chief technology officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of AppLovin stock in a transaction on 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 completion of the sale, the director owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,236,152 shares of company stock valued at $545,240,378. Corporate insiders own 13.66% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on APP shares. Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company increased their price objective on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $478.81.

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.