UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Stock Holdings in AppLovin Corporation $APP

Key Points

• UBS AM increased its stock holdings in AppLovin Corporation by 21.8%, owning 1,243,384 shares valued at approximately $329.5 million.
• Recent analyst reports show a favorable outlook for AppLovin, with several firms raising their price targets and most analysts maintaining a "Buy" rating.
• Insider transactions included a significant sale by Director Eduardo Vivas, who sold 125,000 shares valued at $58.25 million, indicating some level of profit-taking among executives.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 21.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,243,384 shares of the company's stock after buying an additional 222,905 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.37% of AppLovin worth $329,459,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of APP. Atala Financial Inc purchased a new stake in shares of AppLovin in the first quarter worth about $26,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin in the first quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of AppLovin in the first quarter worth about $29,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of AppLovin in the first quarter worth about $29,000. Finally, SouthState Corp purchased a new stake in shares of AppLovin in the first quarter worth about $29,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BTIG Research increased their price target on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Tuesday, August 26th. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Wells Fargo & Company raised their target price on shares of AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Finally, Jefferies Financial Group raised their target price on shares of AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average target price of $482.86.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 125,000 shares of the firm'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 owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares in the company, valued at approximately $135,579,499.65. This trade represents a 11.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Up 1.6%

Shares of AppLovin stock opened at $567.12 on Thursday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a 52-week low of $87.12 and a 52-week high of $576.01. The stock has a market capitalization of $191.83 billion, a price-to-earnings ratio of 80.56, a P/E/G ratio of 3.12 and a beta of 2.44. The company's 50 day moving average price is $415.05 and its 200-day moving average price is $350.95.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the business earned $0.89 earnings per share. The business's revenue was up 77.1% on a year-over-year basis. Equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

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.

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