J.Safra Asset Management Corp Acquires 921 Shares of AppLovin Corporation (NASDAQ:APP)

J.Safra Asset Management Corp increased its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 131.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,624 shares of the company's stock after acquiring an additional 921 shares during the quarter. J.Safra Asset Management Corp's holdings in AppLovin were worth $430,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of APP. Amalgamated Bank grew its position in AppLovin by 5.4% during the first quarter. Amalgamated Bank now owns 18,578 shares of the company's stock worth $4,923,000 after buying an additional 959 shares in the last quarter. Prakash Investment Advisors LLC lifted its position in shares of AppLovin by 359.7% during the 1st quarter. Prakash Investment Advisors LLC now owns 3,195 shares of the company's stock valued at $847,000 after acquiring an additional 2,500 shares during the period. Almanack Investment Partners LLC. acquired a new stake in shares of AppLovin during the 1st quarter worth $437,000. Sovran Advisors LLC increased its position in shares of AppLovin by 100.1% in the first quarter. Sovran Advisors LLC now owns 1,527 shares of the company's stock worth $405,000 after purchasing an additional 764 shares during the period. Finally, Colonial River Investments LLC increased its position in shares of AppLovin by 38.4% in the first quarter. Colonial River Investments LLC now owns 6,407 shares of the company's stock worth $1,698,000 after purchasing an additional 1,778 shares during the period. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on APP shares. Piper Sandler reaffirmed an "overweight" rating and set a $470.00 price objective (up previously from $455.00) on shares of AppLovin in a research report on Thursday. Wells Fargo & Company upped their price target on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Oppenheimer reiterated an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. FBN Securities began coverage on shares of AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective for the company. Finally, Loop Capital reaffirmed a "buy" rating and issued a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $438.85.

AppLovin Price Performance

Shares of NASDAQ APP opened at $333.78 on Monday. The firm has a market capitalization of $112.95 billion, a P/E ratio of 60.25, a P/E/G ratio of 1.99 and a beta of 2.53. The firm's 50-day moving average price is $343.55 and its 200-day moving average price is $333.68. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.38 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. Equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the sale, the director now directly owns 221,209 shares of the company's stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 6,585 shares of AppLovin stock in a transaction on Monday, May 19th. The stock was sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the transaction, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. This represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Corporate insiders own 13.66% of the company's stock.

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.

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