Yarbrough Capital LLC Purchases 4,490 Shares of AppLovin Corporation $APP

Key Points

• Yarbrough Capital LLC increased its stake in AppLovin Corporation by 121.1%, acquiring an additional 4,490 shares, bringing its total holdings to 8,198 shares valued at approximately $2.87 million.
• Several other institutional investors also significantly increased their positions in AppLovin, including Dynasty Wealth Management, which raised its holdings by an astonishing 117,664.4%, now owning 2.7 million shares valued at about $716 million.
• Despite recent insider selling, analysts have shown optimism for AppLovin, with upgraded price targets from Benchmark, Wells Fargo, and Jefferies, indicating a consensus rating of "Moderate Buy" with an average price target of $513.38.

Yarbrough Capital LLC boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 121.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,198 shares of the company's stock after buying an additional 4,490 shares during the period. Yarbrough Capital LLC's holdings in AppLovin were worth $2,870,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Dynasty Wealth Management LLC boosted its position in shares of AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock valued at $716,133,000 after acquiring an additional 2,700,399 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the period. Vanguard Group Inc. boosted its holdings in AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after purchasing an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after purchasing an additional 1,185,859 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of AppLovin by 86.5% in the 1st quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock worth $632,478,000 after buying an additional 1,107,104 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 90,000 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares in the company, valued at approximately $1,103,147,536.16. The trade was a 3.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares in the company, valued at approximately $135,579,499.65. This trade represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock worth $514,863,333 over the last ninety days. 13.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on APP shares. Benchmark boosted their price target on AppLovin from $525.00 to $640.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Wells Fargo & Company boosted their target price on shares of AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Jefferies Financial Group upped 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. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Zacks Research upgraded shares of AppLovin to a "strong-buy" rating in a research report on Friday, August 8th. 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $513.38.

AppLovin Stock Performance

APP stock opened at $651.18 on Wednesday. AppLovin Corporation has a twelve month low of $125.62 and a twelve month high of $670.19. 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 has a market cap of $220.26 billion, a P/E ratio of 92.50, a price-to-earnings-growth ratio of 3.56 and a beta of 2.44. The business's fifty day moving average is $463.24 and its 200-day moving average is $368.98.

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

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.

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