Net Worth Advisory Group Takes Position in AppLovin Co. (NASDAQ:APP)

Net Worth Advisory Group bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,240 shares of the company's stock, valued at approximately $328,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sapient Capital LLC boosted its position in shares of AppLovin by 8.0% during the 1st quarter. Sapient Capital LLC now owns 1,284,035 shares of the company's stock valued at $340,231,000 after acquiring an additional 95,589 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of AppLovin by 174.5% during the 1st quarter. Fifth Third Bancorp now owns 269 shares of the company's stock valued at $71,000 after acquiring an additional 171 shares during the last quarter. Simon Quick Advisors LLC boosted its position in shares of AppLovin by 60.8% during the 1st quarter. Simon Quick Advisors LLC now owns 1,854 shares of the company's stock valued at $491,000 after acquiring an additional 701 shares during the last quarter. Capital Advisory Group Advisory Services LLC boosted its position in shares of AppLovin by 23.1% during the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 811 shares of the company's stock valued at $215,000 after acquiring an additional 152 shares during the last quarter. Finally, Donaldson Capital Management LLC acquired a new position in shares of AppLovin during the 1st quarter valued at about $2,181,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APP. Jefferies Financial Group boosted their price target on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Arete Research set a $200.00 price target on shares of AppLovin in a research report on Wednesday, March 5th. Loop Capital restated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. Benchmark restated a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and a consensus target price of $438.10.

Insider Buying and Selling

In other news, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the sale, the director now directly owns 221,209 shares of the company's stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barbara Messing sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the sale, the director now directly owns 9,510 shares of the company's stock, valued at $3,637,194.60. The trade was a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Company insiders own 13.66% of the company's stock.

AppLovin Trading Down 4.2%

NASDAQ:APP traded down $16.09 on Friday, reaching $364.49. 4,342,573 shares of the company's stock were exchanged, compared to its average volume of 6,124,940. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $123.34 billion, a price-to-earnings ratio of 80.28, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. The business has a fifty day moving average of $324.29 and a 200-day moving average of $334.18. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The business's quarterly revenue was up 40.3% compared to the same quarter last year. As a group, analysts expect that AppLovin Co. will post 6.87 earnings per share for the current 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.