Global Strategic Investment Solutions LLC Boosts Stock Position in AppLovin Corporation $APP

Global Strategic Investment Solutions LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 33.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,848 shares of the company’s stock after buying an additional 461 shares during the period. Global Strategic Investment Solutions LLC’s holdings in AppLovin were worth $647,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vestcor Inc lifted its position in shares of AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company’s stock valued at $1,088,000 after buying an additional 33 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in AppLovin by 32.7% in the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock worth $48,000 after purchasing an additional 34 shares in the last quarter. GSG Advisors LLC lifted its holdings in AppLovin by 0.3% in the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock worth $2,820,000 after purchasing an additional 35 shares in the last quarter. Argentarii LLC lifted its holdings in AppLovin by 1.5% in the 1st quarter. Argentarii LLC now owns 2,638 shares of the company’s stock worth $699,000 after purchasing an additional 40 shares in the last quarter. Finally, Atlas Capital Advisors Inc. lifted its holdings in AppLovin by 11.3% in the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company’s stock worth $104,000 after purchasing an additional 40 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APP has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of AppLovin in a report on Saturday, September 27th. Bank of America boosted their price target on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company boosted their price target on AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Phillip Securities raised AppLovin to a “moderate buy” rating in a report on Monday, September 29th. Finally, Scotiabank reissued an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $578.86.

AppLovin Stock Down 0.1%

Shares of APP opened at $682.76 on Friday. The stock has a market capitalization of $230.94 billion, a price-to-earnings ratio of 96.98, a price-to-earnings-growth ratio of 3.74 and a beta of 2.53. AppLovin Corporation has a 1 year low of $135.50 and a 1 year high of $745.61. The business’s 50 day simple moving average is $514.58 and its 200-day simple moving average is $391.46. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. As a group, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Eduardo Vivas sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 approximately $3,394,014,072. The trade was a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of the business’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 value 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. In the last quarter, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Company insiders own 13.66% of the company’s stock.

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.