Triumph Capital Management Takes Position in AppLovin Corporation $APP

Key Points

• Triumph Capital Management has initiated a new investment in AppLovin Corporation, acquiring 740 shares valued at approximately $259,000 during the second quarter.
• Insider trading activity at AppLovin shows significant sales from top executives, including a $13.1 million sale by CTO Vasily Shikin and an $86.5 million sale by Director Herald Y. Chen, totaling over $514 million in insider sales in the past three months.
• Despite recent challenges, AppLovin's quarterly revenue has increased by 77.1% year-over-year, although it fell short of consensus estimates, highlighting a mixed outlook among analysts regarding the company's future performance.

Triumph Capital Management acquired a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 740 shares of the company's stock, valued at approximately $259,000.

Several other large investors also recently bought and sold shares of the company. Forum Financial Management LP grew its holdings in AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after purchasing an additional 33 shares during the last quarter. Vestcor Inc boosted its position in shares of AppLovin by 0.8% in the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after buying an additional 33 shares in the last quarter. GSG Advisors LLC raised its position in AppLovin by 0.3% during the first quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock worth $2,820,000 after acquiring an additional 35 shares during the last quarter. Argentarii LLC raised its position in AppLovin by 1.5% during the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after acquiring an additional 40 shares during the last quarter. Finally, Atlas Capital Advisors Inc. grew its holdings in AppLovin by 11.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock valued at $104,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 90,000 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the transaction, the chief executive officer owned 2,620,054 shares of the company's stock, valued at $1,103,147,536.16. This trade represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eduardo Vivas sold 125,000 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock worth $514,863,333 over the last quarter. 13.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Jefferies Financial Group boosted 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. Wedbush increased their price objective on shares of AppLovin from $620.00 to $725.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Wells Fargo & Company raised their target price on AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Finally, Zacks Research raised shares of AppLovin to a "strong-buy" rating in a research report on Friday, August 8th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $501.95.

AppLovin Stock Up 4.5%

APP traded up $28.07 during trading on Friday, hitting $649.59. The company had a trading volume of 73,086,587 shares, compared to its average volume of 6,614,834. The company has a market cap of $219.72 billion, a PE ratio of 92.27, a P/E/G ratio of 3.44 and a beta of 2.44. The business has a 50-day moving average of $451.52 and a 200-day moving average of $363.36. 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 Corporation has a 1-year low of $123.51 and a 1-year high of $653.06.

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, topping the consensus estimate of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company's revenue was up 77.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 EPS. As a group, analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.