Oak Thistle LLC Purchases Shares of 2,208 AppLovin Corporation (NASDAQ:APP)

Oak Thistle LLC acquired a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,208 shares of the company's stock, valued at approximately $585,000.

Other institutional investors have also made changes to their positions in the company. Kingswood Wealth Advisors LLC lifted its holdings in shares of AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock valued at $445,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after buying an additional 66,453 shares in the last quarter. Yousif Capital Management LLC increased its holdings in AppLovin by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after purchasing an additional 119 shares in the last quarter. Peak Retirement Planning Inc. acquired a new stake in shares of AppLovin in the 4th quarter valued at $969,000. Finally, Assenagon Asset Management S.A. lifted its holdings in AppLovin by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after acquiring an additional 121 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Herald Y. Chen sold 100,000 shares of AppLovin stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $419.91, for a total value of $41,991,000.00. Following the sale, the director owned 181,929 shares of the company's stock, valued at approximately $76,393,806.39. This trade represents a 35.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 513 shares of AppLovin stock in a transaction on Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. Insiders have sold a total of 1,212,968 shares of company stock worth $455,062,980 in the last quarter. Corporate insiders own 13.66% of the company's stock.

AppLovin Stock Performance

APP stock traded up $4.20 during mid-day trading on Friday, reaching $364.14. The company had a trading volume of 2,880,710 shares, compared to its average volume of 4,896,801. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15. The stock's 50-day simple moving average is $362.09 and its two-hundred day simple moving average is $335.79. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. The stock has a market capitalization of $123.22 billion, a P/E ratio of 65.73, a P/E/G ratio of 2.14 and a beta of 2.42.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on APP shares. Scotiabank upgraded AppLovin to a "strong-buy" rating in a research note on Tuesday, July 8th. The Goldman Sachs Group lifted their price target on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. UBS Group lifted their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wedbush upgraded shares of AppLovin to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, BTIG Research boosted their price target on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $447.57.

AppLovin Company 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.