Benchmark Investment Advisors LLC Buys 4,006 Shares of AppLovin Corporation $APP

Benchmark Investment Advisors LLC raised its stake in AppLovin Corporation (NASDAQ:APP) by 23.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,019 shares of the company’s stock after buying an additional 4,006 shares during the quarter. AppLovin accounts for about 3.6% of Benchmark Investment Advisors LLC’s holdings, making the stock its 4th biggest position. Benchmark Investment Advisors LLC’s holdings in AppLovin were worth $5,569,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in APP. Atala Financial Inc acquired a new position in AppLovin in the 1st quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new position in AppLovin in the 1st quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in AppLovin in the 1st quarter valued at approximately $29,000. Bartlett & CO. Wealth Management LLC acquired a new position in AppLovin in the 1st quarter valued at approximately $29,000. Finally, SouthState Corp acquired a new position in AppLovin in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $478.59 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a fifty day simple moving average of $387.40 and a 200 day simple moving average of $348.32. The company has a market cap of $161.88 billion, a P/E ratio of 67.98, a P/E/G ratio of 2.70 and a beta of 2.43. AppLovin Corporation has a 1 year low of $82.51 and a 1 year 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 (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 net margin of 45.72% and a return on equity of 252.67%. AppLovin’s quarterly revenue was up 77.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, sell-side analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 17,564 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.48, for a total transaction of $7,683,898.72. Following the completion of the sale, the chief technology officer directly owned 53,389 shares of the company’s stock, valued at approximately $23,356,619.72. This represents a 24.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 26,200 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the sale, the chief executive officer directly owned 2,590,054 shares of the company’s stock, valued at approximately $1,140,219,472.42. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,236,152 shares of company stock valued at $545,240,378. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on APP shares. Wall Street Zen lowered shares of AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Scotiabank reissued an “outperform” rating on shares of AppLovin in a research report on Thursday. UBS Group boosted their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $478.81.

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.