Venture Visionary Partners LLC Has $19.10 Million Position in AppLovin Corporation $APP

Venture Visionary Partners LLC raised its stake in AppLovin Corporation (NASDAQ:APP) by 14.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,585 shares of the company’s stock after acquiring an additional 3,427 shares during the period. Venture Visionary Partners LLC’s holdings in AppLovin were worth $19,102,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Avestar Capital LLC increased its position in shares of AppLovin by 2.1% in the second quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock worth $391,000 after purchasing an additional 23 shares during the period. RWA Wealth Partners LLC lifted its position in AppLovin by 0.4% during the second quarter. RWA Wealth Partners LLC now owns 7,680 shares of the company’s stock worth $2,689,000 after purchasing an additional 33 shares during the period. Geneos Wealth Management Inc. grew its stake in AppLovin by 0.8% during the second quarter. Geneos Wealth Management Inc. now owns 4,431 shares of the company’s stock worth $1,551,000 after buying an additional 33 shares in the last quarter. Fortitude Family Office LLC grew its stake in AppLovin by 32.7% during the second quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock worth $48,000 after buying an additional 34 shares in the last quarter. Finally, GSG Advisors LLC increased its holdings in AppLovin by 0.3% in the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock valued at $2,820,000 after buying an additional 35 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APP. Oppenheimer set a $740.00 price target on AppLovin in a research note on Tuesday, October 7th. BTIG Research raised their price objective on AppLovin from $693.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Benchmark boosted their target price on AppLovin from $700.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, UBS Group reissued a “buy” rating and issued a $775.00 target price on shares of AppLovin in a report on Thursday. Nineteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $692.60.

AppLovin Price Performance

AppLovin stock opened at $675.16 on Tuesday. The stock has a 50-day moving average price of $610.73 and a two-hundred day moving average price of $504.57. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The company has a market capitalization of $228.17 billion, a PE ratio of 81.94, a P/E/G ratio of 3.60 and a beta of 2.51. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.11. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, Director Eduardo Vivas sold 150,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total value of $97,636,500.00. Following the sale, the director owned 7,133,292 shares of the company’s stock, valued at $4,643,131,095.72. The trade was a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 30,888 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the transaction, the chief executive officer directly owned 2,553,161 shares of the company’s stock, valued at approximately $1,328,384,136.69. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 332,727 shares of company stock worth $195,062,520. 13.66% of the stock is currently owned by company insiders.

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.