Applied Finance Capital Management LLC Invests $1.55 Million in AppLovin Corporation $APP

Applied Finance Capital Management LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,432 shares of the company’s stock, valued at approximately $1,552,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of APP. Atala Financial Inc bought a new position in AppLovin in the 1st quarter valued at $26,000. Hilltop National Bank purchased a new stake in shares of AppLovin in the second quarter worth $26,000. Alpine Bank Wealth Management bought a new stake in AppLovin during the first quarter valued at $27,000. ORG Wealth Partners LLC bought a new stake in AppLovin during the first quarter valued at $29,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in AppLovin during the first quarter worth about $29,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 0.6%

Shares of NASDAQ APP opened at $605.68 on Friday. The stock has a market capitalization of $204.87 billion, a P/E ratio of 86.03, a PEG ratio of 3.27 and a beta of 2.53. AppLovin Corporation has a one year low of $141.35 and a one year high of $745.61. The firm’s 50 day simple moving average is $553.38 and its two-hundred day simple moving average is $409.27. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business posted $0.89 EPS. The business’s quarterly revenue was up 77.1% on a year-over-year basis. As a group, analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was 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 $135,579,499.65. This represents a 11.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 2,590,054 shares in the company, valued at $1,140,219,472.42. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Corporate insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the topic of several recent analyst reports. Bank of America raised their price target on AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. Wells Fargo & Company lifted their target price on shares of AppLovin from $491.00 to $633.00 and gave the company an “overweight” rating in a research report on Tuesday. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Wedbush raised 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 analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $600.59.

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.