Mutual Advisors LLC Makes New Investment in AppLovin Corporation $APP

Key Points

• Mutual Advisors LLC has made a new investment in AppLovin Corporation by acquiring 1,159 shares valued at approximately $422,000 in the second quarter.
• Several hedge funds have also increased their positions in AppLovin, with Park Avenue Securities LLC increasing its stake by 30.6% to own 20,890 shares worth $7,313,000.
• Analysts have varying ratings on the stock, with a consensus target price of $600.59 and a broad range of price objectives being set by different brokerages.

Mutual Advisors LLC purchased a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,159 shares of the company's stock, valued at approximately $422,000.

Other hedge funds also recently bought and sold shares of the company. Legal Advantage Investments Inc. purchased a new position in AppLovin during the second quarter worth $1,523,000. Park Avenue Securities LLC increased its position in AppLovin by 30.6% during the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company's stock worth $7,313,000 after buying an additional 4,890 shares in the last quarter. IFM Investors Pty Ltd increased its position in AppLovin by 15.6% during the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company's stock worth $15,827,000 after buying an additional 6,104 shares in the last quarter. Aberdeen Group plc increased its position in AppLovin by 6.5% during the second quarter. Aberdeen Group plc now owns 114,180 shares of the company's stock worth $39,972,000 after buying an additional 7,001 shares in the last quarter. Finally, Lee Johnson Capital Management LLC increased its position in AppLovin by 13.6% during the second quarter. Lee Johnson Capital Management LLC now owns 12,449 shares of the company's stock worth $4,358,000 after buying an additional 1,491 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on APP. Oppenheimer set a $740.00 price objective on AppLovin in a research report on Tuesday, October 7th. Bank of America lifted their price objective on AppLovin from $580.00 to $860.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price objective on AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Benchmark lifted their price objective on AppLovin from $525.00 to $640.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $600.59.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 90,000 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the transaction, the chief executive officer owned 2,620,054 shares in the company, valued at $1,103,147,536.16. The trade was a 3.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 30,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This represents 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 over the last 90 days. Corporate insiders own 13.66% of the company's stock.

AppLovin Price Performance

APP stock opened at $565.94 on Tuesday. The stock has a 50-day moving average price of $558.26 and a two-hundred day moving average price of $415.77. AppLovin Corporation has a 12-month low of $148.01 and a 12-month high of $745.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market cap of $191.43 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 3.25 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The firm's quarterly revenue was up 77.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, research analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

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.

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