New Insight Wealth Advisors Increases Position in AppLovin Corporation $APP

New Insight Wealth Advisors boosted its holdings in AppLovin Corporation (NASDAQ:APP) by 12.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 986 shares of the company’s stock after acquiring an additional 113 shares during the period. New Insight Wealth Advisors’ holdings in AppLovin were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in APP. Atala Financial Inc acquired a new stake in shares of AppLovin during the 1st quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin during the 1st quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin in the first quarter worth approximately $29,000. Bartlett & CO. Wealth Management LLC purchased a new position in AppLovin in the first quarter valued at approximately $29,000. Finally, SouthState Corp purchased a new position in AppLovin in the first quarter valued at approximately $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 26,200 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the transaction, the chief executive officer owned 2,590,054 shares of the company’s stock, valued at $1,140,219,472.42. The trade was a 1.00% 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 worth $514,863,333 over the last ninety days. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APP. Oppenheimer lifted their price objective on shares of AppLovin from $500.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. Scotiabank reissued an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. Benchmark boosted their price target on shares of AppLovin from $525.00 to $640.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $513.38.

AppLovin Trading Down 0.3%

Shares of APP stock opened at $639.91 on Friday. AppLovin Corporation has a 1 year low of $125.62 and a 1 year high of $670.19. The firm’s fifty day simple moving average is $474.49 and its 200 day simple moving average is $373.64. The firm has a market capitalization of $216.45 billion, a P/E ratio of 90.90, a price-to-earnings-growth ratio of 3.55 and a beta of 2.44. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. The business 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%.AppLovin’s revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. As a group, sell-side analysts predict 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.