Lattice Capital Management LLC Purchases Shares of 800 AppLovin Corporation $APP

Key Points

• Lattice Capital Management LLC has purchased 800 shares of AppLovin Corporation ($APP), valued at approximately $280,000, making it the fund's 21st largest holding.
• Insiders, including CEO Arash Adam Foroughi, have recently sold a significant number of shares, totaling over $514 million in the past 90 days.
• AppLovin has received mixed ratings from analysts, with a consensus price target of $579.81 and a majority rating it as a "Moderate Buy."

Lattice Capital Management LLC bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 800 shares of the company's stock, valued at approximately $280,000. AppLovin accounts for approximately 0.3% of Lattice Capital Management LLC's portfolio, making the stock its 21st biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atala Financial Inc acquired a new position in shares of AppLovin during the 1st quarter worth $26,000. Hilltop National Bank bought a new stake in shares of AppLovin during the 2nd quarter valued at about $26,000. Alpine Bank Wealth Management bought a new stake in shares of AppLovin during the 1st quarter valued at about $27,000. ORG Wealth Partners LLC bought a new stake in shares of AppLovin during the 1st quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of AppLovin during the 1st quarter valued at about $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 90,000 shares of AppLovin stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $421.04, for a total value of $37,893,600.00. Following the transaction, the chief executive officer owned 2,620,054 shares in the company, valued at approximately $1,103,147,536.16. The trade was a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the sale, the director directly owned 7,283,292 shares in the company, valued at $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Benchmark upped their price target on AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Tuesday, August 26th. Oppenheimer set a $740.00 price target on AppLovin in a research note on Tuesday. Phillip Securities raised AppLovin to a "moderate buy" rating in a research note on Monday, September 29th. Finally, Scotiabank reissued an "outperform" rating on shares of AppLovin in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $579.81.

AppLovin Stock Performance

Shares of APP opened at $631.85 on Wednesday. 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 company has a market capitalization of $213.72 billion, a price-to-earnings ratio of 89.75, a PEG ratio of 3.22 and a beta of 2.53. The stock has a 50 day moving average of $524.30 and a 200 day moving average of $395.61. AppLovin Corporation has a 12 month low of $139.40 and a 12 month high of $745.61.

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