R Squared Ltd Purchases Shares of 2,064 AppLovin Corporation $APP

R Squared Ltd bought a new stake in AppLovin Corporation (NASDAQ:APP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,064 shares of the company’s stock, valued at approximately $723,000.

A number of other large investors have also recently made changes to their positions in APP. Atala Financial Inc purchased a new stake in shares of AppLovin in the first quarter valued at about $26,000. Hilltop National Bank purchased a new stake in shares of AppLovin during the second quarter worth $26,000. Alpine Bank Wealth Management bought a new position in AppLovin in the 1st quarter worth about $27,000. Bartlett & CO. Wealth Management LLC bought a new position in AppLovin in the 1st quarter valued at $29,000. Finally, SouthState Corp purchased a new position in AppLovin during the first quarter worth about $29,000. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Up 4.4%

APP stock opened at $589.70 on Friday. The business’s 50-day moving average price is $565.46 and its 200-day moving average price is $420.20. The stock has a market cap of $199.47 billion, a P/E ratio of 83.76, a PEG ratio of 3.07 and a beta of 2.53. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a twelve month low of $158.08 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up 77.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APP. Phillip Securities raised shares of AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Piper Sandler boosted their price target 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. Wedbush boosted their target price on shares of AppLovin from $725.00 to $745.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $605.13.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 90,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,054 shares of the company’s stock, valued at approximately $1,103,147,536.16. This represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 30,000 shares of the firm’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 owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock valued at $514,863,333 in the last ninety days. Corporate 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.