U.S. Capital Wealth Advisors LLC Purchases Shares of 839 AppLovin Corporation $APP

Key Points

• U.S. Capital Wealth Advisors LLC purchased 839 shares of AppLovin Corporation, valued at approximately $294,000, during the second quarter.
• AppLovin reported $2.26 earnings per share for the latest quarter, exceeding consensus estimates, and its revenue saw a year-on-year increase of 77.1%.
• Multiple brokerages have issued upgrades and target price increases for AppLovin, with Zacks Research rating it as a "strong-buy" and UBS Group raising its target price from $540 to $810.

U.S. Capital Wealth Advisors LLC purchased a new stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 839 shares of the company's stock, valued at approximately $294,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atala Financial Inc bought a new position in AppLovin during the first quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new position in AppLovin during the first quarter valued at approximately $29,000. Alpine Bank Wealth Management bought a new position in AppLovin during the first quarter valued at approximately $27,000. Bartlett & CO. Wealth Management LLC bought a new position in AppLovin during the first quarter valued at approximately $29,000. Finally, SouthState Corp bought a new position in AppLovin during the first quarter valued at approximately $29,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Performance

NASDAQ:APP opened at $669.86 on Friday. The stock has a market cap of $226.58 billion, a P/E ratio of 95.15, a price-to-earnings-growth ratio of 3.54 and a beta of 2.44. The firm's fifty day simple moving average is $480.60 and its 200 day simple moving average is $376.48. AppLovin Corporation has a twelve month low of $126.53 and a twelve month high of $671.18. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APP. Zacks Research upgraded shares of AppLovin to a "strong-buy" rating in a report on Friday, August 8th. UBS Group raised their target price on shares of AppLovin from $540.00 to $810.00 and gave the stock a "buy" rating in a report on Friday. Jefferies Financial Group raised their target price on shares of AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Wells Fargo & Company raised their target price on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Finally, Scotiabank restated an "outperform" rating on shares of AppLovin in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus price target of $540.76.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 350 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $487.97, for a total transaction of $170,789.50. Following the completion of the transaction, the director owned 3,150 shares of the company's stock, valued at approximately $1,537,105.50. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 26,200 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total value of $11,534,026.00. Following the transaction, the chief executive officer directly owned 2,590,054 shares of the company's stock, valued at $1,140,219,472.42. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is currently owned by insiders.

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.

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