Lee Johnson Capital Management LLC Increases Stock Position in AppLovin Corporation $APP

Key Points

• Lee Johnson Capital Management LLC increased its stake in AppLovin Corporation by 13.6%, owning 12,449 shares valued at approximately $4,358,000 as of its latest filing.
• Insider Victoria Valenzuela sold 35,000 shares at an average price of $502.23, representing an 11.48% decrease in her position.
• Analysts have a consensus rating of Moderate Buy on AppLovin, with target prices ranging up to $800 following several upgrades from reputable firms.

Lee Johnson Capital Management LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 13.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,449 shares of the company's stock after acquiring an additional 1,491 shares during the quarter. AppLovin comprises about 1.5% of Lee Johnson Capital Management LLC's investment portfolio, making the stock its 23rd biggest holding. Lee Johnson Capital Management LLC's holdings in AppLovin were worth $4,358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Kingswood Wealth Advisors LLC grew its position in AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock valued at $445,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of AppLovin by 62.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after acquiring an additional 66,453 shares during the period. Yousif Capital Management LLC grew its position in shares of AppLovin by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after acquiring an additional 119 shares during the period. Park Avenue Securities LLC grew its position in shares of AppLovin by 30.6% during the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company's stock valued at $7,313,000 after acquiring an additional 4,890 shares during the period. Finally, IFM Investors Pty Ltd grew its position in shares of AppLovin by 15.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company's stock valued at $15,827,000 after acquiring an additional 6,104 shares during the period. Institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 35,000 shares of the 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 completion of the sale, the insider directly owned 269,955 shares of the company's stock, valued at $135,579,499.65. This trade represents a 11.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dawson Alyssa Harvey sold 350 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $487.97, for a total transaction of $170,789.50. Following the sale, the director directly owned 3,150 shares of the company's stock, valued at approximately $1,537,105.50. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,156,788 shares of company stock valued at $514,863,333. Corporate insiders own 13.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Scotiabank reissued an "outperform" rating on shares of AppLovin in a research report on Thursday, August 28th. Wells Fargo & Company increased their target price on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Oppenheimer increased their target price on shares of AppLovin from $500.00 to $740.00 and gave the stock an "outperform" rating in a report on Tuesday, September 23rd. Piper Sandler increased their target price on shares of AppLovin from $500.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday. Finally, BTIG Research increased their target price on shares of AppLovin from $547.00 to $664.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $553.62.

AppLovin Trading Up 6.3%

Shares of APP opened at $712.36 on Tuesday. 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 1 year low of $126.53 and a 1 year high of $745.61. The company has a 50 day simple moving average of $487.52 and a two-hundred day simple moving average of $380.87. The firm has a market cap of $240.96 billion, a P/E ratio of 101.19, a price-to-earnings-growth ratio of 3.69 and a beta of 2.44.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm posted $0.89 EPS. The company's revenue was up 77.1% on a year-over-year basis. On average, 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.

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