616 Shares in AppLovin Corporation $APP Acquired by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC acquired a new position in AppLovin Corporation (NASDAQ:APP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 616 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors also recently modified their holdings of the stock. Hilltop National Bank bought a new position in shares of AppLovin in the 2nd quarter worth $26,000. Atala Financial Inc bought a new position in shares of AppLovin in the 1st quarter worth $26,000. Hoey Investments Inc. bought a new position in shares of AppLovin in the 2nd quarter worth $35,000. Trust Co. of Vermont bought a new position in AppLovin in the second quarter valued at $35,000. Finally, Alpine Bank Wealth Management bought a new position in AppLovin in the first quarter valued at $27,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

APP opened at $589.70 on Friday. The stock’s 50 day simple moving average is $565.46 and its 200 day simple moving average is $420.20. 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 Corporation has a 1 year low of $158.08 and a 1 year high of $745.61. The firm has a market cap of $199.47 billion, a price-to-earnings ratio of 83.76, a PEG ratio of 3.07 and a beta of 2.53.

AppLovin (NASDAQ:APP) last issued its earnings results 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. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the business earned $0.89 earnings per share. The business’s revenue was up 77.1% on a year-over-year basis. As a group, analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on APP. Wedbush increased their target price on AppLovin from $725.00 to $745.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $630.00 price objective on shares of AppLovin in a research report on Tuesday, October 14th. Royal Bank Of Canada assumed coverage on shares of AppLovin in a research report on Monday, October 13th. They set an “outperform” rating and a $700.00 price target on the stock. 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, September 26th. Finally, Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $605.13.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 35,000 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the sale, the insider owned 269,955 shares of the company’s stock, valued at $135,579,499.65. This trade represents a 11.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 350 shares of the firm’s stock in a transaction dated 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 directly owned 3,150 shares in the company, valued at $1,537,105.50. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock worth $514,863,333 in the last quarter. Insiders own 13.66% of the company’s stock.

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.