Marathon Trading Investment Management LLC Invests $318,000 in AppLovin Corporation (NASDAQ:APP)

Key Points

• Marathon Trading Investment Management LLC purchased 1,200 shares of AppLovin Corporation, valued at approximately $318,000, during the first quarter.
• AppLovin's quarterly earnings report showed earnings per share of $2.26, surpassing analyst expectations, although revenue of $1.26 billion fell short of the forecast.
• Insider activity reflects significant stock trades, with Director Herald Y. Chen selling 200,000 shares valued at about $92.9 million, reducing ownership by 34.37%.

Marathon Trading Investment Management LLC bought a new position in AppLovin Corporation (NASDAQ:APP - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,200 shares of the company's stock, valued at approximately $318,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of AppLovin by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after purchasing an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares during the last quarter. Invesco Ltd. raised its stake in shares of AppLovin by 32.9% in the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock worth $1,062,876,000 after purchasing an additional 992,316 shares during the last quarter. Dynasty Wealth Management LLC raised its stake in shares of AppLovin by 117,664.4% in the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after purchasing an additional 2,700,399 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of AppLovin by 86.5% during the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock valued at $632,478,000 after acquiring an additional 1,107,104 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 34,766 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the transaction, the chief technology officer directly owned 70,889 shares of the company's stock, valued at approximately $25,069,185.96. This represents a 32.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 100,000 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total value of $36,751,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,760,363 shares in the company, valued at approximately $1,014,461,006.13. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 925,398 shares of company stock valued at $392,582,738. Company insiders own 13.66% of the company's stock.

AppLovin Trading Up 1.2%

Shares of NASDAQ:APP traded up $5.34 during trading hours on Friday, hitting $438.68. 3,399,166 shares of the company's stock traded hands, compared to its average volume of 6,114,927. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15. The business has a fifty day moving average price of $370.82 and a 200-day moving average price of $343.23. The firm has a market capitalization of $148.38 billion, a P/E ratio of 62.31, a price-to-earnings-growth ratio of 2.42 and a beta of 2.43. 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 (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%. The company's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. Equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APP. Zacks Research upgraded AppLovin to a "strong-buy" rating in a research note on Friday, August 8th. Wells Fargo & Company increased their target price on AppLovin from $405.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. Scotiabank upped their price target on AppLovin from $430.00 to $450.00 and gave the company a "sector outperform" rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group increased their target price on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $472.33.

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.