Napa Wealth Management Purchases 818 Shares of AppLovin Corporation $APP

Key Points

• Napa Wealth Management increased its stake in AppLovin Corporation by 67.9% during the 1st quarter, owning 2,023 shares valued at approximately $536,000.
• Several institutional investors, including Dynasty Wealth Management and Price T Rowe Associates, significantly boosted their stakes in AppLovin, contributing to a total of 41.85% of the stock being owned by hedge funds and other institutional investors.
• AppLovin reported an EPS of $2.26 for its latest quarter, exceeding expectations, despite revenue falling short at $1.26 billion against a predicted $1.37 billion.

Napa Wealth Management boosted its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 67.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,023 shares of the company's stock after purchasing an additional 818 shares during the period. Napa Wealth Management's holdings in AppLovin were worth $536,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin during the 4th quarter valued at about $25,000. Atala Financial Inc purchased a new position in AppLovin during the 1st quarter valued at $26,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin in the 1st quarter worth about $27,000. ORG Wealth Partners LLC purchased a new position in shares of AppLovin during the first quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in AppLovin in the first quarter worth about $29,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analysts Set New Price Targets

APP has been the topic of several recent research reports. Wall Street Zen cut AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Wedbush reiterated an "outperform" rating and issued a $620.00 price target on shares of AppLovin in a research note on Thursday, August 7th. Zacks Research raised shares of AppLovin to a "strong-buy" rating in a research report on Friday, August 8th. UBS Group upped their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Benchmark reaffirmed a "buy" rating and set a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $472.86.

AppLovin Stock Down 1.2%

NASDAQ APP traded down $5.67 during mid-day trading on Wednesday, reaching $463.66. The stock had a trading volume of 1,993,329 shares, compared to its average volume of 7,038,787. The stock has a market cap of $156.83 billion, a PE ratio of 65.78, a price-to-earnings-growth ratio of 2.52 and a beta of 2.43. AppLovin Corporation has a 1 year low of $82.51 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company has a fifty day moving average price of $379.16 and a 200 day moving average price of $346.11.

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

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $464.69, for a total transaction of $92,938,000.00. Following the sale, the director directly owned 381,929 shares in the company, valued at approximately $177,478,587.01. The trade was a 34.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,221,152 shares of company stock worth $538,490,378 in the last 90 days. Corporate insiders own 13.66% of the company's stock.

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.