Venture Visionary Partners LLC Grows Stock Holdings in AppLovin Corporation $APP

Key Points

• Venture Visionary Partners LLC increased its stake in AppLovin Corporation by 113.2% during the 2nd quarter, acquiring a total of 23,158 shares valued at approximately $8.1 million.
• Directors Herald Y. Chen and Eduardo Vivas sold a combined 325,000 shares of AppLovin stock for over $144 million in mid-August, representing significant decreases in their ownership.
• Analysts have recently raised price targets for AppLovin, with estimates now ranging from $664 to $750, indicating strong optimism about the company's future performance.

Venture Visionary Partners LLC lifted its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 113.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,158 shares of the company's stock after purchasing an additional 12,294 shares during the period. Venture Visionary Partners LLC's holdings in AppLovin were worth $8,107,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vestcor Inc lifted its position in shares of AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after purchasing an additional 33 shares during the last quarter. Fortitude Family Office LLC lifted its position in AppLovin by 32.7% in the second quarter. Fortitude Family Office LLC now owns 138 shares of the company's stock valued at $48,000 after acquiring an additional 34 shares during the last quarter. GSG Advisors LLC lifted its position in AppLovin by 0.3% in the first quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock valued at $2,820,000 after acquiring an additional 35 shares during the last quarter. Argentarii LLC lifted its position in AppLovin by 1.5% in the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock valued at $699,000 after acquiring an additional 40 shares during the last quarter. Finally, Atlas Capital Advisors Inc. lifted its position in AppLovin by 11.3% in the first quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock valued at $104,000 after acquiring an additional 40 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the transaction, the director directly owned 181,929 shares in the company, valued at $78,682,473.21. The trade was a 52.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 125,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 1,156,788 shares of company stock valued at $514,863,333. Insiders own 13.66% of the company's stock.

AppLovin Trading Up 6.3%

Shares of AppLovin stock opened at $712.36 on Tuesday. AppLovin Corporation has a 52-week low of $126.53 and a 52-week high of $745.61. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The company's 50-day simple moving average is $487.52 and its 200-day simple moving average is $380.87. The firm has a market cap of $240.96 billion, a price-to-earnings ratio of 101.19, a price-to-earnings-growth ratio of 3.69 and a beta of 2.44.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on APP shares. Piper Sandler boosted their price target on shares of AppLovin from $500.00 to $740.00 and gave the company an "overweight" rating in a research report on Friday. BTIG Research boosted their price target on shares of AppLovin from $547.00 to $664.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Morgan Stanley boosted their price target on shares of AppLovin from $480.00 to $750.00 and gave the company an "overweight" rating in a research report on Monday. Jefferies Financial Group boosted their price target on shares of AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Wall Street Zen cut shares of AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus price target of $553.62.

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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