Nishkama Capital LLC Raises Stake in AppLovin Corporation $APP

Key Points

• Nishkama Capital LLC increased its holdings in AppLovin Corporation by 54.3%, now owning 72,799 shares valued at approximately $19.29 million.
• AppLovin's stock has been given a consensus rating of "Moderate Buy" by analysts, with a new average price target of $472.86.
• Institutional investors currently hold 41.85% of AppLovin's stock, indicating strong institutional interest in the company.

Nishkama Capital LLC lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 54.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,799 shares of the company's stock after purchasing an additional 25,608 shares during the period. AppLovin comprises approximately 2.1% of Nishkama Capital LLC's investment portfolio, making the stock its 8th largest holding. Nishkama Capital LLC's holdings in AppLovin were worth $19,290,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin during the 4th quarter worth $25,000. Atala Financial Inc purchased a new position in AppLovin during the 1st quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new position in AppLovin during the 1st quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in AppLovin during the 1st quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in AppLovin during the 1st quarter valued at about $29,000. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APP has been the subject of several recent analyst reports. Zacks Research raised AppLovin to a "strong-buy" rating in a report on Friday, August 8th. UBS Group boosted their price objective on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Morgan Stanley boosted their price objective on AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Piper Sandler boosted their price objective on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, BTIG Research boosted their price objective on AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $472.86.

Insider Transactions at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the transaction, the chief executive officer owned 2,620,054 shares of the company's stock, valued at $1,103,147,536.16. The trade was a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,221,152 shares of company stock worth $538,490,378. Corporate insiders own 13.66% of the company's stock.

AppLovin Stock Performance

NASDAQ:APP opened at $441.68 on Monday. The firm has a market cap of $149.40 billion, a PE ratio of 62.74, a price-to-earnings-growth ratio of 2.47 and a beta of 2.43. AppLovin Corporation has a fifty-two week low of $82.51 and a fifty-two week high of $525.15. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The business has a 50 day moving average price of $375.38 and a 200-day moving average price of $344.73.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly 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 company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The firm's revenue was up 77.1% on a year-over-year basis. Equities research analysts predict that AppLovin Corporation 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.

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