2,752 Shares in AppLovin Corporation $APP Bought by IronOak Wealth LLC.

Key Points

• IronOak Wealth LLC has acquired a new position in AppLovin Corporation, purchasing 2,752 shares valued at approximately $963,000 in the second quarter of the year.
• Analysts have raised their price targets for AppLovin, with the average target now set at $501.95 and a majority rating it as a "Moderate Buy."
• Insider trading activity showed significant sales, with CEO Arash Adam Foroughi selling 26,200 shares for over $11.5 million recently, decreasing his ownership stake in the company.

IronOak Wealth LLC. bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,752 shares of the company's stock, valued at approximately $963,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atala Financial Inc bought a new stake in AppLovin in the first quarter valued at about $26,000. ORG Wealth Partners LLC bought a new position in shares of AppLovin during the 1st quarter valued at about $29,000. Alpine Bank Wealth Management bought a new stake in AppLovin during the 1st quarter worth approximately $27,000. Bartlett & CO. Wealth Management LLC bought a new position in AppLovin in the first quarter valued at approximately $29,000. Finally, SouthState Corp acquired a new stake in shares of AppLovin during the first quarter worth $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the sale, the insider directly owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 26,200 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the sale, the chief executive officer owned 2,590,054 shares in the company, valued at $1,140,219,472.42. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is owned by corporate insiders.

AppLovin Price Performance

APP traded down $6.09 on Monday, hitting $643.50. 9,256,930 shares of the stock were exchanged, compared to its average volume of 9,961,002. The firm has a market capitalization of $217.66 billion, a price-to-earnings ratio of 91.41, a PEG ratio of 3.60 and a beta of 2.44. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. AppLovin Corporation has a 12 month low of $124.59 and a 12 month high of $657.00. The business has a 50-day moving average of $457.27 and a two-hundred day moving average of $367.01.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 EPS. Sell-side analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of a number of research reports. Piper Sandler increased their target price on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wedbush lifted their target price on AppLovin from $620.00 to $725.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. Wells Fargo & Company upped their price target on AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Benchmark boosted their price objective on shares of AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Morgan Stanley raised their target price on shares of AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Two 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 given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $501.95.

AppLovin 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.