AppLovin Corporation $APP Shares Bought by Capital Advisory Group Advisory Services LLC

Capital Advisory Group Advisory Services LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 883 shares of the company’s stock after purchasing an additional 72 shares during the period. Capital Advisory Group Advisory Services LLC’s holdings in AppLovin were worth $309,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Atala Financial Inc purchased a new stake in AppLovin during the first quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin during the 1st quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin during the 1st quarter valued at approximately $29,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of AppLovin during the 1st quarter worth approximately $29,000. Finally, SouthState Corp acquired a new stake in shares of AppLovin in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 90,000 shares of AppLovin stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $432.49, for a total value of $86,498,000.00. Following the completion of the sale, the director owned 181,929 shares of the company’s stock, valued at approximately $78,682,473.21. This represents a 52.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock valued at $514,863,333 in the last three months. 13.66% of the stock is owned by company insiders.

AppLovin Price Performance

Shares of AppLovin stock opened at $606.66 on Thursday. The business’s fifty day moving average price is $439.73 and its 200 day moving average price is $359.17. AppLovin Corporation has a twelve month low of $120.64 and a twelve month high of $613.69. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The stock has a market capitalization of $205.20 billion, a P/E ratio of 86.17, a PEG ratio of 3.34 and a beta of 2.44.

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

Wall Street Analyst Weigh In

APP has been the subject of several research reports. Wedbush lifted their price objective on AppLovin from $620.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Piper Sandler lifted their price target on AppLovin from $470.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Wall Street Zen cut shares of AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research upgraded shares of AppLovin to a “strong-buy” rating in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $501.95.

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.