9,085 Shares in AppLovin Corporation (NASDAQ:APP) Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,085 shares of the company's stock, valued at approximately $2,407,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin during the fourth quarter worth about $25,000. Atala Financial Inc acquired a new position in AppLovin during the first quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin during the first quarter worth $27,000. Tucker Asset Management LLC acquired a new position in shares of AppLovin during the fourth quarter worth $28,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of AppLovin in the first quarter worth $29,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Activity

In other news, CFO Matthew Stumpf sold 9,714 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $423.00, for a total value of $4,109,022.00. Following the completion of the sale, the chief financial officer owned 192,421 shares of the company's stock, valued at approximately $81,394,083. The trade was a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 100,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $419.91, for a total value of $41,991,000.00. Following the completion of the sale, the director directly owned 181,929 shares of the company's stock, valued at approximately $76,393,806.39. This trade represents a 35.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is owned by insiders.

AppLovin Price Performance

AppLovin stock traded down $11.22 during midday trading on Friday, hitting $335.10. 3,575,807 shares of the company's stock were exchanged, compared to its average volume of 6,221,987. AppLovin Corporation has a 52-week low of $60.67 and a 52-week high of $525.15. The stock has a 50-day moving average price of $357.68 and a two-hundred day moving average price of $334.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $113.39 billion, a P/E ratio of 60.49, a PEG ratio of 2.10 and a beta of 2.42.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on APP. Scotiabank raised shares of AppLovin to a "strong-buy" rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. UBS Group upped their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. FBN Securities started coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus price target of $438.43.

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.