Stonebridge Financial Group LLC Makes New Investment in AppLovin Corporation $APP

Stonebridge Financial Group LLC bought a new position in AppLovin Corporation (NASDAQ:APP) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 690 shares of the company’s stock, valued at approximately $242,000.

A number of other large investors have also added to or reduced their stakes in APP. Revolve Wealth Partners LLC bought a new stake in AppLovin in the 4th quarter worth approximately $294,000. Bison Wealth LLC bought a new position in shares of AppLovin in the 4th quarter worth approximately $239,000. NBC Securities Inc. purchased a new position in shares of AppLovin in the first quarter worth approximately $34,000. Farther Finance Advisors LLC boosted its holdings in shares of AppLovin by 13.9% in the first quarter. Farther Finance Advisors LLC now owns 2,679 shares of the company’s stock worth $757,000 after buying an additional 327 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in shares of AppLovin by 3.5% in the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after buying an additional 119 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APP. Scotiabank reissued an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. Piper Sandler boosted their price objective on shares of AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Oppenheimer set a $740.00 price objective on shares of AppLovin in a research report on Tuesday. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Wedbush boosted their price objective on shares of AppLovin from $725.00 to $745.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $597.38.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 350 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $487.97, for a total value of $170,789.50. Following the completion of the sale, the director owned 3,150 shares in the company, valued at approximately $1,537,105.50. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief technology officer owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Trading Down 5.1%

Shares of APP stock opened at $569.89 on Friday. AppLovin Corporation has a 52-week low of $139.40 and a 52-week high of $745.61. 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 firm has a market capitalization of $192.77 billion, a PE ratio of 80.95, a PEG ratio of 3.26 and a beta of 2.53. The stock has a fifty day simple moving average of $537.64 and a two-hundred day simple moving average of $400.57.

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

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.