AppLovin Corporation $APP Position Raised by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. raised its stake in AppLovin Corporation (NASDAQ:APP) by 156.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 18,141 shares of the company’s stock after buying an additional 11,062 shares during the quarter. AppLovin makes up about 0.9% of EFG Asset Management North America Corp.’s investment portfolio, making the stock its 21st largest holding. EFG Asset Management North America Corp.’s holdings in AppLovin were worth $6,348,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in APP. Hilltop National Bank acquired a new position in shares of AppLovin during the second quarter valued at $26,000. SouthState Corp acquired a new position in shares of AppLovin during the first quarter valued at $29,000. Cornerstone Planning Group LLC increased its holdings in shares of AppLovin by 428.0% during the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the company’s stock valued at $33,000 after purchasing an additional 107 shares during the period. Hoey Investments Inc. acquired a new position in shares of AppLovin during the second quarter valued at $35,000. Finally, Trust Co. of Vermont acquired a new position in AppLovin during the second quarter worth about $35,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Down 3.7%

Shares of NASDAQ APP opened at $608.68 on Wednesday. AppLovin Corporation has a one year low of $160.52 and a one year high of $745.61. The firm has a market capitalization of $205.89 billion, a PE ratio of 86.46, a PEG ratio of 3.43 and a beta of 2.50. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The business has a 50-day moving average price of $596.21 and a two-hundred day moving average price of $445.26.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 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 firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company posted $0.89 EPS. The business’s quarterly revenue was up 77.1% compared to the same quarter last year. As a group, analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, 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 transaction of $170,789.50. Following the completion of the sale, the director directly owned 3,150 shares in the company, valued at approximately $1,537,105.50. This trade represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction on Friday, August 22nd. The shares were 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 directly owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. BTIG Research lifted their target price on AppLovin from $664.00 to $693.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. UBS Group lifted their target price on AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Finally, Jefferies Financial Group lifted their target price on AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.39.

AppLovin Company 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.