Sequoia Financial Advisors LLC Acquires 912 Shares of AppLovin Corporation $APP

Key Points

• Sequoia Financial Advisors LLC increased its stake in AppLovin Corporation by 28.7% during the second quarter, acquiring an additional 912 shares to reach a total of 4,086 shares.
• Analysts express mixed sentiments towards AppLovin, with Wedbush raising the price target to $745.00 while Wall Street Zen downgraded the stock to a "hold" rating.
• AppLovin reported a 77.1% year-over-year revenue growth in the last quarter, exceeding earnings estimates with $2.26 per share compared to a consensus estimate of $2.05.

Sequoia Financial Advisors LLC increased its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 28.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,086 shares of the company's stock after buying an additional 912 shares during the quarter. Sequoia Financial Advisors LLC's holdings in AppLovin were worth $1,431,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hilltop National Bank purchased a new position in AppLovin in the second quarter worth about $26,000. Atala Financial Inc purchased a new position in shares of AppLovin during the 1st quarter valued at about $26,000. Hoey Investments Inc. purchased a new position in shares of AppLovin during the 2nd quarter valued at about $35,000. Trust Co. of Vermont purchased a new position in AppLovin in the 2nd quarter worth approximately $35,000. Finally, ORG Wealth Partners LLC purchased a new position in AppLovin in the 1st quarter worth approximately $29,000. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APP has been the topic of a number of research analyst reports. Wedbush boosted their price target on AppLovin from $725.00 to $745.00 and gave the stock an "outperform" rating in a report on Monday, October 6th. Phillip Securities raised AppLovin to a "moderate buy" rating in a report on Monday, September 29th. Wall Street Zen cut AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup upped their price objective on AppLovin from $600.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AppLovin in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $600.59.

AppLovin Stock Up 0.6%

Shares of APP opened at $605.68 on Friday. The stock has a market capitalization of $204.87 billion, a price-to-earnings ratio of 86.03, a price-to-earnings-growth ratio of 3.27 and a beta of 2.53. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The business's 50 day simple moving average is $553.38 and its 200-day simple moving average is $409.27. AppLovin Corporation has a 1 year low of $141.35 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.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 company posted $0.89 EPS. As a group, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Vasily Shikin sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 125,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Company 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.

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