1,312 Shares in AppLovin Corporation $APP Purchased by Cullinan Associates Inc.

Cullinan Associates Inc. purchased a new position in AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, HoldingsChannel reports. The firm purchased 1,312 shares of the company’s stock, valued at approximately $459,000.

Other large investors have also modified their holdings of the company. Kingswood Wealth Advisors LLC boosted its position in shares of AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock valued at $445,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of AppLovin by 62.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock valued at $45,675,000 after buying an additional 66,453 shares during the period. Park Avenue Securities LLC boosted its position in shares of AppLovin by 30.6% during the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock valued at $7,313,000 after buying an additional 4,890 shares during the period. Yousif Capital Management LLC boosted its position in shares of AppLovin by 3.5% during the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock valued at $939,000 after buying an additional 119 shares during the period. Finally, IFM Investors Pty Ltd boosted its position in shares of AppLovin by 15.6% during the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after buying an additional 6,104 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $682.76 on Monday. The company 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 52 week low of $135.50 and a 52 week high of $745.61. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a 50 day moving average of $514.58 and a 200 day moving average of $392.05.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. The company had revenue of $1.26 billion during 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%. AppLovin’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 earnings per share. On average, sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 90,000 shares of the business’s 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 sale, the chief executive officer directly owned 2,620,054 shares of the company’s stock, valued at $1,103,147,536.16. The trade was a 3.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the sale, the insider directly owned 269,955 shares in the company, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,156,788 shares of company stock valued at $514,863,333. Corporate insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of several recent analyst reports. Jefferies Financial Group boosted their target price on AppLovin from $560.00 to $615.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Benchmark boosted their target price on AppLovin from $525.00 to $640.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Piper Sandler boosted their target price on AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Phillip Securities upgraded AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. Finally, BTIG Research boosted their price target on AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $578.86.

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.