Steward Partners Investment Advisory LLC Grows Stake in AppLovin Corporation $APP

Steward Partners Investment Advisory LLC increased its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 3,816.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,318 shares of the company's stock after acquiring an additional 65,599 shares during the period. Steward Partners Investment Advisory LLC's holdings in AppLovin were worth $17,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Dynasty Wealth Management LLC raised its stake in AppLovin by 117,664.4% in the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after buying an additional 2,700,399 shares in the last quarter. Capital World Investors purchased a new stake in shares of AppLovin during the fourth quarter valued at $421,470,000. Vanguard Group Inc. grew its holdings in shares of AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after buying an additional 1,213,536 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after buying an additional 1,185,859 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in AppLovin by 86.5% in the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock valued at $632,478,000 after purchasing an additional 1,107,104 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

NASDAQ:APP opened at $438.68 on Monday. The stock has a market cap of $148.38 billion, a P/E ratio of 62.31, a PEG ratio of 2.45 and a beta of 2.43. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15. The company has a fifty day moving average price of $370.82 and a 200 day moving average price of $342.91. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) 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 company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The business's revenue was up 77.1% on a year-over-year basis. Analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wedbush reaffirmed an "outperform" rating and issued a $620.00 price target on shares of AppLovin in a report on Thursday, August 7th. Jefferies Financial Group increased their price objective on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley increased their price objective on shares of AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $472.33.

Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 32,991 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $457.93, for a total transaction of $15,107,568.63. Following the transaction, the director directly owned 381,929 shares in the company, valued at approximately $174,896,746.97. This represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Stumpf sold 9,714 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the completion of the sale, the chief financial officer owned 192,421 shares in the company, valued at $81,394,083. This represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 918,813 shares of company stock worth $390,144,773. 13.66% of the stock is currently owned by insiders.

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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