Mission Hills Financial Advisory LLC Makes New Investment in AppLovin Corporation (NASDAQ:APP)

Mission Hills Financial Advisory LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,941 shares of the company's stock, valued at approximately $3,164,000. AppLovin comprises about 2.2% of Mission Hills Financial Advisory LLC's investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. SVB Wealth LLC bought a new position in AppLovin during the fourth quarter worth $1,781,922,000. Geode Capital Management LLC boosted its stake in AppLovin by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock worth $1,462,144,000 after acquiring an additional 573,310 shares in the last quarter. Invesco Ltd. boosted its stake in AppLovin by 68.0% during the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after acquiring an additional 1,222,074 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after acquiring an additional 2,373,885 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Down 3.9%

Shares of APP stock traded down $13.67 on Friday, hitting $333.78. The stock had a trading volume of 18,524,276 shares, compared to its average volume of 6,217,974. The stock has a market cap of $112.95 billion, a price-to-earnings ratio of 60.25, a price-to-earnings-growth ratio of 2.02 and a beta of 2.53. The business has a 50 day moving average of $343.55 and a 200 day moving average of $333.66. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. AppLovin Corporation has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm's revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. As a group, analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on APP. Citigroup reissued a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Benchmark restated a "buy" rating and set a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a report on Thursday. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Piper Sandler restated an "overweight" rating and set a $470.00 price objective (up previously from $455.00) on shares of AppLovin in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and an average target price of $438.85.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 33,700 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total transaction of $12,318,698.00. Following the completion of the transaction, the chief executive officer now owns 2,760,363 shares in the company, valued at $1,009,023,091.02. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barbara Messing sold 1,500 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total transaction of $573,690.00. Following the transaction, the director now owns 9,510 shares of the company's stock, valued at $3,637,194.60. This represents a 13.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,212,968 shares of company stock worth $455,062,980. 13.66% of the stock is owned by company insiders.

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.