8,000 Shares in AppLovin Corporation $APP Bought by Inspire Investing LLC

Inspire Investing LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,000 shares of the company’s stock, valued at approximately $2,120,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atala Financial Inc purchased a new stake in AppLovin in the first quarter valued at $26,000. ORG Wealth Partners LLC purchased a new stake in AppLovin in the first quarter valued at $29,000. Alpine Bank Wealth Management purchased a new stake in AppLovin in the first quarter valued at $27,000. Bartlett & CO. Wealth Management LLC purchased a new stake in AppLovin in the first quarter valued at $29,000. Finally, SouthState Corp purchased a new stake in AppLovin in the first quarter valued at $29,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Up 1.9%

APP stock opened at $582.00 on Friday. The company’s 50 day simple moving average is $424.50 and its 200-day simple moving average is $353.48. The firm has a market capitalization of $196.86 billion, a PE ratio of 82.67, a P/E/G ratio of 3.19 and a beta of 2.44. AppLovin Corporation has a 12 month low of $105.94 and a 12 month high of $587.88. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74.

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

Analyst Ratings Changes

APP has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of AppLovin from $480.00 to $491.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Wedbush upped their target price on shares of AppLovin from $620.00 to $725.00 and gave the company an “outperform” rating in a report on Friday. Zacks Research raised shares of AppLovin to a “strong-buy” rating in a report on Friday, August 8th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $487.86.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 26,200 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the transaction, the chief executive officer owned 2,590,054 shares of the company’s stock, valued at approximately $1,140,219,472.42. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the transaction, the chief technology officer directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock valued at $514,863,333 over the last three months. Company insiders own 13.66% of the company’s stock.

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.