Twin Capital Management Inc. Makes New $1.45 Million Investment in AppLovin Corporation (NASDAQ:APP)

Twin Capital Management Inc. purchased a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,482 shares of the company's stock, valued at approximately $1,453,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APP. Kingswood Wealth Advisors LLC increased its holdings in shares of AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock valued at $445,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AppLovin by 62.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after purchasing an additional 66,453 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of AppLovin by 3.5% in the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after purchasing an additional 119 shares during the last quarter. Peak Retirement Planning Inc. acquired a new position in shares of AppLovin in the fourth quarter valued at $969,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of AppLovin by 3.0% in the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock valued at $1,106,000 after purchasing an additional 121 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $367.51, for a total transaction of $36,751,000.00. Following the completion of the transaction, the chief executive officer owned 2,760,363 shares in the company, valued at $1,014,461,006.13. This trade represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 34,766 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total value of $12,294,648.24. Following the sale, the chief technology officer owned 70,889 shares in the company, valued at $25,069,185.96. The trade was a 32.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock worth $455,062,980 over the last ninety days. 13.66% of the stock is owned by corporate insiders.

AppLovin Trading Up 0.2%

NASDAQ APP opened at $364.46 on Monday. AppLovin Corporation has a 12 month low of $60.67 and a 12 month high of $525.15. The stock has a market cap of $123.33 billion, a P/E ratio of 65.79, a P/E/G ratio of 2.16 and a beta of 2.42. The stock's fifty day moving average price is $362.51 and its 200-day moving average price is $335.12. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10.

AppLovin (NASDAQ:APP - Get Free Report) last released its 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 firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The company's quarterly revenue was up 40.3% on a year-over-year basis. As a group, equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Benchmark reaffirmed a "buy" rating and set a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $438.43.

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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