Simplicity Wealth LLC Purchases 221 Shares of AppLovin Co. (NASDAQ:APP)

Simplicity Wealth LLC raised its position in AppLovin Co. (NASDAQ:APP) by 10.1% during the 1st quarter, HoldingsChannel reports. The fund owned 2,418 shares of the company’s stock after buying an additional 221 shares during the quarter. Simplicity Wealth LLC’s holdings in AppLovin were worth $641,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC raised its stake in shares of AppLovin by 13.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,574 shares of the company’s stock worth $417,000 after purchasing an additional 181 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of AppLovin by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after purchasing an additional 119 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of AppLovin by 13.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,679 shares of the company’s stock worth $757,000 after purchasing an additional 327 shares in the last quarter. Range Financial Group LLC raised its stake in shares of AppLovin by 7.1% during the 1st quarter. Range Financial Group LLC now owns 7,398 shares of the company’s stock worth $1,960,000 after purchasing an additional 489 shares in the last quarter. Finally, PFW Advisors LLC raised its stake in shares of AppLovin by 16.9% during the 1st quarter. PFW Advisors LLC now owns 781 shares of the company’s stock worth $207,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of AppLovin in a research note on Thursday, May 29th. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. Morgan Stanley upped their price objective on AppLovin from $420.00 to $460.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company upped their price objective on AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Piper Sandler boosted their target price on AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $438.10.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $383.43 on Thursday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s fifty day moving average price is $318.74 and its two-hundred day moving average price is $333.48. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The firm has a market cap of $129.75 billion, a price-to-earnings ratio of 84.46, a P/E/G ratio of 3.02 and a beta of 2.53.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. On average, equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 6,585 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $370.23, for a total value of $2,437,964.55. Following the completion of the sale, the insider now owns 357,903 shares of the company’s stock, valued at approximately $132,506,427.69. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the sale, the director now directly owns 3,451 shares of the company’s stock, valued at approximately $1,450,455.30. The trade was a 12.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,211,468 shares of company stock worth $454,489,290 in the last ninety days. 14.69% of the stock is owned by insiders.

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.