Nisa Investment Advisors LLC Grows Position in AppLovin Corporation (NASDAQ:APP)

Nisa Investment Advisors LLC increased its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 43.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 19,510 shares of the company's stock after buying an additional 5,926 shares during the quarter. Nisa Investment Advisors LLC's holdings in AppLovin were worth $5,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. HighPoint Advisor Group LLC raised its stake in AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after acquiring an additional 31 shares during the period. Quadrant Capital Group LLC raised its stake in AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after acquiring an additional 33 shares during the period. Forum Financial Management LP raised its stake in AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after acquiring an additional 33 shares during the period. Argentarii LLC raised its stake in AppLovin by 1.5% in the 1st quarter. Argentarii LLC now owns 2,638 shares of the company's stock valued at $699,000 after acquiring an additional 40 shares during the period. Finally, Versant Capital Management Inc raised its stake in AppLovin by 13.4% in the 1st quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $97,000 after acquiring an additional 43 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Loop Capital reiterated a "buy" rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. UBS Group upped their price target on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. FBN Securities began coverage on AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target on the stock. Finally, Citigroup reiterated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus target price of $438.43.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 513 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the sale, the director owned 3,451 shares of the company's stock, valued at $1,450,455.30. This represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 34,766 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total value of $12,294,648.24. Following the completion of the sale, the chief technology officer directly owned 70,889 shares of the company's stock, valued at approximately $25,069,185.96. This represents a 32.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock valued at $455,062,980 over the last 90 days. Company insiders own 13.66% of the company's stock.

AppLovin Price Performance

APP traded down $11.22 during midday trading on Friday, hitting $335.10. The stock had a trading volume of 3,575,879 shares, compared to its average volume of 6,237,377. The company has a market cap of $113.39 billion, a P/E ratio of 60.49, a price-to-earnings-growth ratio of 2.06 and a beta of 2.42. The business has a fifty day moving average of $358.23 and a 200 day moving average of $334.33. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15.

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