Atala Financial Inc Makes New Investment in AppLovin Corporation (NASDAQ:APP)

Atala Financial Inc bought a new stake in AppLovin Corporation (NASDAQ:APP) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 100 shares of the company’s stock, valued at approximately $26,000.

Several other large investors also recently modified their holdings of APP. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin in the 4th quarter valued at approximately $25,000. Riverview Trust Co grew its holdings in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in shares of AppLovin during the 4th quarter worth approximately $28,000. Smithfield Trust Co bought a new position in AppLovin during the fourth quarter worth $32,000. Finally, ORG Wealth Partners LLC acquired a new position in AppLovin in the 1st quarter valued at about $29,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

Shares of APP stock opened at $338.80 on Thursday. The business has a fifty day simple moving average of $339.45 and a 200 day simple moving average of $333.54. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. The company has a market cap of $114.65 billion, a P/E ratio of 61.16, a P/E/G ratio of 2.03 and a beta of 2.53.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company posted $0.67 EPS. AppLovin’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, sell-side analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Activity

In other news, Director Barbara Messing sold 1,500 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the sale, the director now owns 9,510 shares of the company’s stock, valued at approximately $3,637,194.60. This represents a 13.62% 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, CEO Arash Adam Foroughi sold 33,700 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $365.54, for a total value of $12,318,698.00. Following the transaction, the chief executive officer now owns 2,760,363 shares of the company’s stock, valued at $1,009,023,091.02. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of several research reports. FBN Securities initiated coverage on AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price target for the company. Wells Fargo & Company lifted their target price on AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. HSBC set a $436.00 price target on shares of AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Jefferies Financial Group raised 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. Finally, The Goldman Sachs Group boosted their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.10.

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.