Wealthfront Advisers LLC Has $5.86 Million Stock Holdings in AppLovin Corporation (NASDAQ:APP)

Wealthfront Advisers LLC increased its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 16.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 22,130 shares of the company's stock after buying an additional 3,118 shares during the period. Wealthfront Advisers LLC's holdings in AppLovin were worth $5,864,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at about $25,000. Atala Financial Inc bought a new stake in AppLovin in the 1st quarter valued at about $26,000. Alpine Bank Wealth Management bought a new stake in AppLovin in the 1st quarter valued at about $27,000. Tucker Asset Management LLC bought a new stake in AppLovin in the 4th quarter valued at about $28,000. Finally, ORG Wealth Partners LLC bought a new stake in AppLovin in the 1st quarter valued at about $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Trading Up 0.2%

Shares of AppLovin stock traded up $0.68 during trading on Friday, hitting $364.46. The stock had a trading volume of 4,807,908 shares, compared to its average volume of 6,256,954. The stock has a 50 day simple moving average of $361.80 and a 200 day simple moving average of $334.81. The company has a market capitalization of $123.33 billion, a PE ratio of 65.79, a P/E/G ratio of 2.12 and a beta of 2.42. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its 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 business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. On average, research analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on APP shares. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Thursday, June 26th. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Jefferies Financial Group boosted their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price target on shares of AppLovin from $420.00 to $460.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company boosted their price target on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, AppLovin has an average rating of "Moderate Buy" and a consensus target price of $438.43.

Insider Activity at AppLovin

In related news, Director Herald Y. Chen sold 400,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director directly owned 221,209 shares of the company's stock, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total transaction of $36,751,000.00. Following the transaction, the chief executive officer directly owned 2,760,363 shares in the company, valued at $1,014,461,006.13. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Company insiders own 13.66% of the company's stock.

AppLovin 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.