Jump Financial LLC Purchases 107,979 Shares of AppLovin Corporation $APP

Key Points

• Jump Financial LLC increased its holdings in AppLovin Corporation by 2,816.4% in the 1st quarter, acquiring an additional 107,979 shares and reaching a total of 111,813 shares valued at approximately $29.6 million.
• Institutional investors now own 41.85% of AppLovin's stock, with significant stake increases from firms like Vanguard Group Inc. and Price T Rowe Associates Inc..
• AppLovin reported a Q2 earnings per share (EPS) of $2.26, beating estimates, while revenue for the quarter was $1.26 billion, up 77.1% year-over-year, but below the expected $1.37 billion.

Jump Financial LLC raised its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 2,816.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,813 shares of the company's stock after purchasing an additional 107,979 shares during the quarter. Jump Financial LLC's holdings in AppLovin were worth $29,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin in the first quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin in the first quarter valued at approximately $29,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin in the first quarter valued at approximately $27,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of AppLovin during the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Benchmark restated a "buy" rating and set a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. Wall Street Zen cut shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. BTIG Research raised their target price on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $472.86.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 125,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were 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 in the company, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the transaction, the chief executive officer owned 2,620,054 shares in the company, valued at $1,103,147,536.16. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,221,152 shares of company stock worth $538,490,378 over the last quarter. Company insiders own 13.66% of the company's stock.

AppLovin Stock Down 1.2%

Shares of AppLovin stock traded down $5.63 during midday trading on Wednesday, reaching $463.70. 1,993,329 shares of the company's stock traded hands, compared to its average volume of 7,038,787. The company has a market cap of $156.85 billion, a price-to-earnings ratio of 65.78, a price-to-earnings-growth ratio of 2.52 and a beta of 2.43. The company's 50 day simple moving average is $379.16 and its 200 day simple moving average is $346.11. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a 52 week low of $82.51 and a 52 week 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 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. AppLovin's revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS. Equities analysts expect that AppLovin Corporation will post 6.87 earnings per share 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.