AppLovin Corporation $APP Shares Acquired by McAdam LLC

Key Points

• McAdam LLC increased its stake in AppLovin Corporation by 54.6%, now holding 1,940 shares valued at approximately $514,000 as of the latest SEC filing.
• Recent transactions by insiders show CTO Vasily Shikin and CEO Arash Adam Foroughi sold a combined 56,200 shares for over $24 million, indicating a decrease in their holdings.
• Analysts have a generally positive outlook on AppLovin, with an average target price of $482.86 and numerous firms rating the stock as a Moderate Buy.

McAdam LLC lifted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 54.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,940 shares of the company's stock after buying an additional 685 shares during the quarter. McAdam LLC's holdings in AppLovin were worth $514,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Atala Financial Inc acquired a new position in AppLovin during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin in the first quarter worth $27,000. ORG Wealth Partners LLC acquired a new position in shares of AppLovin in the first quarter worth $29,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of AppLovin in the first quarter worth $29,000. Finally, SouthState Corp acquired a new position in shares of AppLovin in the first quarter worth $29,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 35,000 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the sale, the insider owned 269,955 shares in the company, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 30,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the sale, the chief technology officer owned 3,360,104 shares in the company, valued at $1,470,280,707.28. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock valued at $514,863,333 in the last three months. 13.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wedbush lifted their price objective on AppLovin from $620.00 to $725.00 and gave the company an "outperform" rating in a research report on Friday. Jefferies Financial Group lifted their price objective on AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. BTIG Research lifted their price objective on AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. 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 given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $487.86.

AppLovin Stock Up 1.9%

Shares of NASDAQ APP traded up $10.69 on Friday, hitting $582.00. The company had a trading volume of 6,725,840 shares, compared to its average volume of 5,778,341. AppLovin Corporation has a 12-month low of $105.94 and a 12-month high of $587.88. The business has a 50 day moving average of $424.50 and a two-hundred day moving average of $353.48. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $196.86 billion, a P/E ratio of 82.67, a PEG ratio of 3.19 and a beta of 2.44.

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

AppLovin Company 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.