1,289 Shares in AppLovin Corporation (NASDAQ:APP) Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG bought a new stake in AppLovin Corporation (NASDAQ:APP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,289 shares of the company’s stock, valued at approximately $342,000.

Several other hedge funds also recently bought and sold shares of APP. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at approximately $25,000. Atala Financial Inc acquired a new stake in AppLovin in the first quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new stake in AppLovin in the first quarter worth approximately $29,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin during the 1st quarter worth $27,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of AppLovin during the 1st quarter valued at $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 513 shares of AppLovin stock in a transaction on Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the completion of the transaction, the director directly owned 3,451 shares of the company’s stock, valued at approximately $1,450,455.30. This trade represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herald Y. Chen sold 100,000 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $419.91, for a total transaction of $41,991,000.00. Following the completion of the sale, the director owned 181,929 shares in the company, valued at $76,393,806.39. This represents a 35.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is owned by insiders.

AppLovin Price Performance

Shares of AppLovin stock opened at $395.01 on Tuesday. The firm has a market cap of $133.67 billion, a P/E ratio of 71.30, a price-to-earnings-growth ratio of 2.26 and a beta of 2.43. The firm’s 50-day simple moving average is $364.27 and its 200-day simple moving average is $337.95. AppLovin Corporation has a twelve month low of $60.67 and a twelve month 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.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share 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 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. The company’s quarterly revenue was up 40.3% on a year-over-year basis. As a group, research analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on APP. Wedbush raised shares of AppLovin to a “strong-buy” rating in a research report on Tuesday, July 1st. Jefferies Financial Group increased their price objective on AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, June 26th. BTIG Research upped their target price on AppLovin from $480.00 to $483.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, Citigroup reissued a “buy” rating on shares of AppLovin in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $447.57.

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.