Sigma Planning Corp Grows Stock Position in AppLovin Corporation (NASDAQ:APP)

Sigma Planning Corp boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 20.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,026 shares of the company’s stock after buying an additional 519 shares during the period. Sigma Planning Corp’s holdings in AppLovin were worth $802,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in APP. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin in the 4th quarter valued at approximately $25,000. Atala Financial Inc bought a new stake in AppLovin in the first quarter worth about $26,000. Alpine Bank Wealth Management purchased a new position in shares of AppLovin during the first quarter worth approximately $27,000. Tucker Asset Management LLC purchased a new position in AppLovin in the fourth quarter worth $28,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of AppLovin during the first quarter worth $29,000. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 34,766 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $353.64, for a total value of $12,294,648.24. Following the transaction, the chief technology officer directly owned 70,889 shares of the company’s stock, valued at approximately $25,069,185.96. This trade represents a 32.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 100,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $367.51, for a total transaction of $36,751,000.00. Following the transaction, the chief executive officer directly owned 2,760,363 shares of the company’s stock, valued at $1,014,461,006.13. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Wedbush upgraded shares of AppLovin to a “strong-buy” rating in a research note on Tuesday, July 1st. UBS Group lifted their price target on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. FBN Securities began coverage on shares of AppLovin in a research report on Friday, March 28th. They set an “outperform” rating and a $385.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $438.43.

AppLovin Stock Up 2.3%

Shares of NASDAQ:APP opened at $363.78 on Friday. AppLovin Corporation has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $123.10 billion, a P/E ratio of 65.66, a P/E/G ratio of 2.12 and a beta of 2.42. The stock has a 50 day moving average price of $361.80 and a 200-day moving average price of $334.81.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $0.67 earnings per share. AppLovin’s quarterly revenue was up 40.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal 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.