Maven Securities LTD Purchases Shares of 756 AppLovin Corporation $APP

Key Points

• Maven Securities LTD has acquired a new position in AppLovin Corporation by purchasing 756 shares, which are valued at approximately $200,000.
• Several institutional investors have increased their stakes in AppLovin, with notable additions from BNP Paribas Asset Management by 51.5% and Korea Investment CORP by 23.3% during Q1.
• Analysts maintain a positive outlook on AppLovin, with a consensus target price of $472.33, and ratings ranging from "Strong Buy" to "Hold," indicating strong market confidence despite recent earnings fluctuations.

Maven Securities LTD bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 756 shares of the company's stock, valued at approximately $200,000.

Several other hedge funds have also modified their holdings of APP. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin during the 4th quarter worth about $25,000. Atala Financial Inc purchased a new position in shares of AppLovin in the first quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin during the first quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin during the first quarter valued at approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in AppLovin in the 1st quarter worth approximately $29,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on APP. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group increased their price objective on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company lifted their target price on AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a research note on Thursday. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. Finally, Morgan Stanley raised their price target on shares of AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $472.86.

Insider Activity

In related news, insider Victoria Valenzuela sold 16,599 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $416.71, for a total transaction of $6,916,969.29. Following the completion of the transaction, the insider owned 319,955 shares of the company's stock, valued at approximately $133,328,448.05. The trade was a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 17,564 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.48, for a total value of $7,683,898.72. Following the completion of the sale, the chief technology officer directly owned 53,389 shares in the company, valued at $23,356,619.72. This trade represents a 24.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,221,152 shares of company stock valued at $538,490,378. 13.66% of the stock is owned by insiders.

AppLovin Stock Performance

Shares of NASDAQ:APP traded up $22.92 during trading on Friday, reaching $441.68. The stock had a trading volume of 6,199,963 shares, compared to its average volume of 6,240,730. The stock has a fifty day simple moving average of $375.38 and a two-hundred day simple moving average of $344.98. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 52 week low of $82.51 and a 52 week high of $525.15. The firm has a market capitalization of $149.40 billion, a price-to-earnings ratio of 62.74, a P/E/G ratio of 2.47 and a beta of 2.43.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results 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. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. AppLovin's revenue was up 77.1% compared to the same quarter last year. During the same period last year, the business posted $0.89 EPS. As a group, analysts anticipate 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.