UNICOM Systems Inc. Purchases Shares of 31,900 AppLovin Corporation (NASDAQ:APP)

UNICOM Systems Inc. acquired a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,900 shares of the company's stock, valued at approximately $8,453,000. AppLovin accounts for about 1.7% of UNICOM Systems Inc.'s portfolio, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. Revolve Wealth Partners LLC acquired a new position in AppLovin in the fourth quarter valued at approximately $294,000. Proficio Capital Partners LLC acquired a new position in AppLovin in the fourth quarter valued at approximately $474,000. Independent Advisor Alliance bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $518,000. Sequoia Financial Advisors LLC increased its holdings in shares of AppLovin by 45.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,143 shares of the company's stock valued at $1,018,000 after acquiring an additional 987 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of AppLovin by 130.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,352 shares of the company's stock valued at $762,000 after acquiring an additional 1,332 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AppLovin news, Director Herald Y. Chen sold 400,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the transaction, the director owned 221,209 shares in the company, valued at $82,867,103.49. This trade represents a 64.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 34,766 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief technology officer directly owned 70,889 shares in the company, valued at approximately $25,069,185.96. The trade was a 32.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock worth $455,062,980 in the last 90 days. 13.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their price target on AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Jefferies Financial Group upped their price target on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. FBN Securities assumed coverage on AppLovin in a report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target for the company. Finally, Piper Sandler reiterated an "overweight" rating and set a $470.00 price target (up previously from $455.00) on shares of AppLovin in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $438.43.

AppLovin Stock Performance

Shares of APP stock traded up $6.97 on Thursday, hitting $362.47. 2,465,171 shares of the stock were exchanged, compared to its average volume of 6,248,188. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $122.65 billion, a PE ratio of 65.28, a P/E/G ratio of 2.10 and a beta of 2.42. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15. The firm's 50 day moving average is $361.32 and its two-hundred day moving average is $334.61.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 EPS. Sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

About AppLovin

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.