Atlatl Advisers LLC Acquires Shares of 3,670 AppLovin Corporation $APP

Atlatl Advisers LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,670 shares of the company’s stock, valued at approximately $1,285,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock valued at $4,724,594,000 after acquiring an additional 1,213,536 shares during the period. Price T Rowe Associates Inc. MD grew its stake in AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after acquiring an additional 1,769,400 shares during the period. Baillie Gifford & Co. grew its stake in AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after acquiring an additional 1,185,859 shares during the period. Invesco Ltd. grew its stake in AppLovin by 32.9% in the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock valued at $1,062,876,000 after acquiring an additional 992,316 shares during the period. Finally, Kensico Capital Management Corp grew its stake in AppLovin by 12.9% in the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock valued at $762,849,000 after acquiring an additional 328,000 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on AppLovin from $491.00 to $633.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. BTIG Research raised their target price on AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a report on Monday, September 15th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Oppenheimer set a $740.00 target price on AppLovin in a report on Tuesday, October 7th. Finally, Citigroup raised their target price on AppLovin from $600.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $605.13.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the sale, the chief executive officer directly owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 350 shares of AppLovin 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 sale, the director owned 3,150 shares in the company, valued at $1,537,105.50. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is owned by insiders.

AppLovin Stock Performance

Shares of AppLovin stock opened at $620.00 on Friday. The business’s fifty day simple moving average is $569.09 and its 200 day simple moving average is $424.16. The firm has a market capitalization of $209.72 billion, a P/E ratio of 88.07, a price-to-earnings-growth ratio of 3.37 and a beta of 2.53. AppLovin Corporation has a 12 month low of $158.33 and a 12 month high of $745.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

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

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.