Chicago Partners Investment Group LLC Invests $315,000 in AppLovin Corporation (NASDAQ:APP)

Chicago Partners Investment Group LLC purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,190 shares of the company’s stock, valued at approximately $315,000.

Other hedge funds have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin during the 4th quarter worth about $25,000. Atala Financial Inc acquired a new position in shares of AppLovin during the 1st quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin in the 1st quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in AppLovin in the 1st quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in AppLovin in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $465.58 on Tuesday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market capitalization of $157.55 billion, a P/E ratio of 66.13, a PEG ratio of 2.60 and a beta of 2.43. The company has a 50 day moving average price of $368.05 and a 200 day moving average price of $340.46. AppLovin Corporation has a fifty-two week low of $74.12 and a fifty-two week high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm’s quarterly revenue was up 77.1% on a year-over-year basis. During the same quarter last year, the company posted $0.89 EPS. Equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 6,599 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $369.35, for a total value of $2,437,340.65. Following the completion of the transaction, the insider owned 344,256 shares of the company’s stock, valued at $127,150,953.60. This trade represents a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total transaction of $36,751,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,760,363 shares of the company’s stock, valued at $1,014,461,006.13. This represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 800,398 shares of company stock worth $301,556,641 over the last three months. 13.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent research reports. UBS Group increased their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, June 26th. Wedbush reiterated an “outperform” rating and issued a $620.00 price objective on shares of AppLovin in a report on Thursday, August 7th. Piper Sandler increased their price objective on shares of AppLovin from $470.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $472.33.

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.