Stephens Inc. AR Grows Stock Position in AppLovin Corporation (NASDAQ:APP)

Stephens Inc. AR boosted its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 10.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,004 shares of the company's stock after buying an additional 780 shares during the period. Stephens Inc. AR's holdings in AppLovin were worth $2,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new stake in shares of AppLovin in the fourth quarter worth approximately $294,000. Proficio Capital Partners LLC purchased a new stake in shares of AppLovin in the fourth quarter worth approximately $474,000. Independent Advisor Alliance purchased a new stake in shares of AppLovin in the fourth quarter worth approximately $518,000. Commonwealth Equity Services LLC raised its holdings in shares of AppLovin by 25.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,749 shares of the company's stock worth $4,128,000 after buying an additional 2,565 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in shares of AppLovin by 15.3% in the fourth quarter. Corient Private Wealth LLC now owns 19,556 shares of the company's stock worth $5,986,000 after buying an additional 2,592 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

APP traded up $2.54 on Wednesday, reaching $355.50. 3,701,928 shares of the stock were exchanged, compared to its average volume of 6,245,705. The company's 50-day moving average price is $360.28 and its 200 day moving average price is $334.47. AppLovin Corporation has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market capitalization of $120.30 billion, a PE ratio of 64.17, a PEG ratio of 2.12 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 analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm's revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the transaction, the director owned 221,209 shares in the company, valued at approximately $82,867,103.49. This trade represents a 64.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 100,000 shares of AppLovin stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total value of $36,751,000.00. Following the transaction, the chief executive officer owned 2,760,363 shares of the company's stock, valued at $1,014,461,006.13. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Corporate insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on APP shares. Jefferies Financial Group raised their price objective on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Morgan Stanley raised their price objective on AppLovin from $420.00 to $460.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Piper Sandler restated an "overweight" rating and set a $470.00 price objective (up from $455.00) on shares of AppLovin in a report on Thursday, June 26th. HSBC set a $436.00 target price on AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, UBS Group increased their target price on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus target price of $438.43.

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.