Insigneo Advisory Services LLC Acquires New Stake in AppLovin Corporation (NASDAQ:APP)

Insigneo Advisory Services LLC acquired a new stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,177 shares of the company's stock, valued at approximately $312,000.

A number of other large investors have also bought and sold shares of the company. FMR LLC raised its position in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares during the period. SVB Wealth LLC bought a new stake in AppLovin during the 4th quarter valued at $1,781,922,000. Norges Bank bought a new stake in AppLovin during the 4th quarter valued at $828,138,000. Arrowstreet Capital Limited Partnership lifted its position in shares of AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after acquiring an additional 2,373,885 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of AppLovin by 193.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company's stock worth $882,469,000 after acquiring an additional 1,797,027 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HSBC set a $436.00 price objective on AppLovin and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Loop Capital reaffirmed a "buy" rating and set a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. UBS Group increased their price target on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company raised their price objective on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley boosted their price objective on shares of AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $438.10.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 6,585 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $370.23, for a total value of $2,437,964.55. Following the completion of the sale, the insider now directly owns 357,903 shares of the company's stock, valued at $132,506,427.69. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Barbara Messing sold 1,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total value of $573,690.00. Following the transaction, the director now directly owns 9,510 shares in the company, valued at $3,637,194.60. This trade represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock worth $455,062,980 in the last quarter. 13.66% of the stock is owned by insiders.

AppLovin Stock Down 4.5%

Shares of NASDAQ:APP opened at $344.37 on Friday. The firm has a market capitalization of $116.53 billion, a PE ratio of 62.16, a price-to-earnings-growth ratio of 2.00 and a beta of 2.53. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. AppLovin Corporation has a 52-week low of $60.67 and a 52-week high of $525.15. The firm has a fifty day moving average of $331.71 and a 200 day moving average of $334.73.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company's revenue was up 40.3% compared to the same quarter last year. As a group, research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

About AppLovin

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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