Oliver Lagore Vanvalin Investment Group Acquires New Holdings in AppLovin Corporation $APP

Key Points

• Oliver Lagore Vanvalin Investment Group has acquired 421 shares of AppLovin Corporation, valued at approximately $147,000, according to their latest SEC filing.
• AppLovin's stock has seen a significant 4.5% increase, reaching an opening price of $649.59, with a market capitalization of $219.72 billion.
• Following AppLovin's latest earnings report, which showed a 77.1% revenue increase year-over-year, multiple analysts have raised their target prices, with BTIG Research setting a new target at $664.00.

Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 421 shares of the company's stock, valued at approximately $147,000.

A number of other large investors have also added to or reduced their stakes in APP. Atala Financial Inc purchased a new stake in shares of AppLovin during the 1st quarter worth $26,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin in the first quarter worth approximately $29,000. Alpine Bank Wealth Management purchased a new stake in AppLovin in the first quarter valued at $27,000. Bartlett & CO. Wealth Management LLC acquired a new position in AppLovin during the 1st quarter worth about $29,000. Finally, SouthState Corp acquired a new stake in AppLovin in the 1st quarter valued at about $29,000. Institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Wedbush lifted their target price on AppLovin from $620.00 to $725.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. BTIG Research increased their price target on AppLovin from $547.00 to $664.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Jefferies Financial Group increased their price objective on AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Benchmark lifted their target price on AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $501.95.

AppLovin Stock Up 3.6%

Shares of NASDAQ:APP traded up $23.10 during trading on Tuesday, hitting $666.60. 2,274,243 shares of the company were exchanged, compared to its average volume of 7,438,290. The stock has a market cap of $225.48 billion, a price-to-earnings ratio of 94.55, a P/E/G ratio of 3.60 and a beta of 2.44. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a fifty-two week low of $125.62 and a fifty-two week high of $662.14. The firm has a fifty day moving average price of $457.27 and a two-hundred day moving average price of $367.01.

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

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 35,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the transaction, the insider directly owned 269,955 shares in the company, valued at approximately $135,579,499.65. This represents a 11.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 26,200 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the transaction, the chief executive officer owned 2,590,054 shares of the company's stock, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,156,788 shares of company stock worth $514,863,333. 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.