Venture Visionary Partners LLC Raises Stock Position in AppLovin Corporation $APP

Venture Visionary Partners LLC raised its stake in AppLovin Corporation (NASDAQ:APP) by 113.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 23,158 shares of the company’s stock after buying an additional 12,294 shares during the quarter. Venture Visionary Partners LLC’s holdings in AppLovin were worth $8,107,000 at the end of the most recent reporting period.

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

AppLovin Stock Performance

Shares of APP opened at $712.36 on Tuesday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market capitalization of $240.96 billion, a price-to-earnings ratio of 101.19, a PEG ratio of 3.69 and a beta of 2.44. The company’s 50 day simple moving average is $487.52 and its 200 day simple moving average is $380.87. AppLovin Corporation has a 1 year low of $126.53 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, sell-side analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Zacks Research upgraded shares of AppLovin to a “strong-buy” rating in a research report on Friday, August 8th. Scotiabank reiterated an “outperform” rating on shares of AppLovin in a research report on Thursday, August 28th. BTIG Research increased their price target on shares of AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a research report on Monday, September 15th. UBS Group increased their price target on shares of AppLovin from $540.00 to $810.00 and gave the company a “buy” rating in a research report on Friday. Finally, Morgan Stanley increased their price target on shares of AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $553.62.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company’s stock, valued at $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was 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 approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. 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 over the last 90 days. 13.66% of the stock is currently owned by insiders.

About AppLovin

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.