Steph & Co. Acquires 229 Shares of AppLovin Corporation (NASDAQ:APP)

Steph & Co. grew its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 22.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,249 shares of the company’s stock after buying an additional 229 shares during the quarter. Steph & Co.’s holdings in AppLovin were worth $331,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Syquant Capital Sas acquired a new position in AppLovin during the first quarter valued at approximately $1,836,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of AppLovin by 525.0% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 150 shares of the company’s stock worth $40,000 after purchasing an additional 126 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of AppLovin by 6.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 79,802 shares of the company’s stock valued at $21,145,000 after buying an additional 4,772 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of AppLovin by 3.8% in the first quarter. Oppenheimer & Co. Inc. now owns 18,944 shares of the company’s stock valued at $5,020,000 after buying an additional 694 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in AppLovin by 17.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 22,562 shares of the company’s stock worth $5,978,000 after buying an additional 3,332 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Craig Scott Billings sold 12,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $353.12, for a total value of $4,237,440.00. Following the sale, the director now directly owns 2,987 shares of the company’s stock, valued at $1,054,769.44. This trade represents a 80.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the transaction, the director now owns 221,209 shares in the company, valued at approximately $82,867,103.49. This represents a 64.39% 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 worth $455,062,980. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

AppLovin stock opened at $349.48 on Wednesday. The firm has a market cap of $118.26 billion, a PE ratio of 63.08, a price-to-earnings-growth ratio of 1.95 and a beta of 2.53. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The stock’s fifty day moving average price is $337.27 and its two-hundred day moving average price is $333.51. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on APP shares. Jefferies Financial Group increased their price target on shares of AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Loop Capital reissued a “buy” rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. UBS Group lifted their target price on AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, Morgan Stanley increased their price target on AppLovin from $420.00 to $460.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $438.10.

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.