AppLovin Corporation $APP Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its stake in AppLovin Corporation (NASDAQ:APP) by 36.7% during the 1st quarter, HoldingsChannel reports. The firm owned 6,588,483 shares of the company’s stock after acquiring an additional 1,769,400 shares during the period. Price T Rowe Associates Inc. MD’s holdings in AppLovin were worth $1,745,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Kingswood Wealth Advisors LLC grew its position in AppLovin by 5.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock valued at $445,000 after buying an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in AppLovin by 62.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock worth $45,675,000 after buying an additional 66,453 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after acquiring an additional 119 shares during the period. Peak Retirement Planning Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at about $969,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of AppLovin by 3.0% in the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company’s stock valued at $1,106,000 after acquiring an additional 121 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Down 0.1%

AppLovin stock opened at $412.38 on Thursday. AppLovin Corporation has a fifty-two week low of $82.51 and a fifty-two week high of $525.15. The firm has a market capitalization of $139.49 billion, a price-to-earnings ratio of 58.58, a price-to-earnings-growth ratio of 2.31 and a beta of 2.43. The stock’s fifty day moving average is $373.08 and its two-hundred day moving average is $344.34. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74.

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

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 34,766 shares of AppLovin stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the completion of the transaction, the chief technology officer directly owned 70,889 shares in the company, valued at $25,069,185.96. The trade was a 32.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the sale, the director directly owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,022,214 shares of company stock worth $448,294,925. Insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on APP. Wells Fargo & Company increased their price target on shares of AppLovin from $405.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. BTIG Research boosted 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. Wall Street Zen cut AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Benchmark restated a “buy” rating and issued a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $472.33.

About AppLovin

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.