Wallace Hart LLC Purchases 2,082 Shares of AppLovin Corporation $APP

Wallace Hart LLC boosted its position in AppLovin Corporation (NASDAQ:APP) by 220.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,025 shares of the company’s stock after purchasing an additional 2,082 shares during the quarter. AppLovin comprises about 1.6% of Wallace Hart LLC’s portfolio, making the stock its 8th biggest holding. Wallace Hart LLC’s holdings in AppLovin were worth $2,174,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of APP. Chilton Capital Management LLC bought a new stake in shares of AppLovin in the third quarter valued at approximately $29,000. Activest Wealth Management increased its position in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in AppLovin during the 3rd quarter worth approximately $33,000. Bogart Wealth LLC lifted its holdings in AppLovin by 100.0% during the 3rd quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock worth $34,000 after buying an additional 24 shares during the period. Finally, Wolff Wiese Magana LLC acquired a new stake in AppLovin during the 3rd quarter worth about $39,000. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the sale, the chief technology officer directly owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. This trade represents a 0.81% 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 Eduardo Vivas sold 150,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $650.91, for a total value of $97,636,500.00. Following the completion of the transaction, the director directly owned 7,133,292 shares in the company, valued at approximately $4,643,131,095.72. This represents a 2.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 340,336 shares of company stock valued at $200,062,623 in the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

APP opened at $483.00 on Tuesday. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The company has a market capitalization of $163.23 billion, a price-to-earnings ratio of 58.62, a P/E/G ratio of 1.56 and a beta of 2.49. The firm’s fifty day moving average price is $633.80 and its two-hundred day moving average price is $569.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm earned $1.29 earnings per share. The firm’s revenue was up 68.2% on a year-over-year basis. As a group, analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of AppLovin from $750.00 to $800.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. BTIG Research reiterated a “buy” rating and issued a $771.00 price target on shares of AppLovin in a report on Wednesday, December 17th. Oppenheimer set a $740.00 target price on AppLovin in a research report on Tuesday, October 7th. The Goldman Sachs Group lifted their price target on shares of AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft set a $705.00 price target on shares of AppLovin and gave the company a “buy” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $706.45.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.