Park Capital Management LLC WI Invests $338,000 in AppLovin Corporation $APP

Key Points

• Park Capital Management LLC acquired 965 shares of AppLovin Corporation, valued at approximately $338,000, in their recent investment move during the second quarter.
• Insider transactions included Director Herald Y. Chen selling 200,000 shares for $86.5 million and CEO Arash Adam Foroughi selling 90,000 shares worth $37.9 million, indicating significant insider selling activity.
• AppLovin reported quarterly earnings of $2.26 per share, beating estimates, but its revenue fell short of expectations at $1.26 billion, reflecting a 77.1% year-over-year increase.

Park Capital Management LLC WI bought a new stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 965 shares of the company's stock, valued at approximately $338,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fulton Bank N.A. grew its holdings in shares of AppLovin by 2.9% during the 2nd quarter. Fulton Bank N.A. now owns 8,243 shares of the company's stock valued at $2,886,000 after purchasing an additional 232 shares during the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of AppLovin by 3.7% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 2,232 shares of the company's stock valued at $762,000 after purchasing an additional 79 shares during the last quarter. Capital Advisory Group Advisory Services LLC grew its holdings in shares of AppLovin by 8.9% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 883 shares of the company's stock valued at $309,000 after purchasing an additional 72 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of AppLovin by 49.5% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 86,700 shares of the company's stock valued at $30,352,000 after purchasing an additional 28,700 shares during the last quarter. Finally, Swedbank AB raised its holdings in AppLovin by 20.2% during the 2nd quarter. Swedbank AB now owns 193,160 shares of the company's stock valued at $67,621,000 after buying an additional 32,426 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Trading Up 4.5%

Shares of APP traded up $28.07 during trading hours on Friday, reaching $649.59. 73,086,587 shares of the company traded hands, compared to its average volume of 6,614,834. The company's fifty day moving average price is $445.23 and its two-hundred day moving average price is $361.13. The company has a market capitalization of $219.72 billion, a price-to-earnings ratio of 89.94, a price-to-earnings-growth ratio of 3.44 and a beta of 2.44. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 12 month low of $123.51 and a 12 month high of $653.06.

AppLovin (NASDAQ:APP - Get Free Report) last announced 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. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. Equities research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on APP shares. Wall Street Zen cut shares of AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Wedbush raised their target price on AppLovin from $620.00 to $725.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Jefferies Financial Group upped their price target on AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Tuesday, August 26th. Finally, BTIG Research boosted their target price on AppLovin from $547.00 to $664.00 and gave the company a "buy" rating in a research note on Monday. Two 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $501.95.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares in the company, valued at $3,394,014,072. This trade represents a 1.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the transaction, the insider owned 269,955 shares of the company's stock, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock worth $514,863,333 over the last 90 days. Corporate insiders own 13.66% of the company's stock.

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.