Quarry LP Buys 94 Shares of AppLovin Corporation $APP

Quarry LP lifted its stake in AppLovin Corporation (NASDAQ:APP) by 33.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 371 shares of the company’s stock after purchasing an additional 94 shares during the quarter. Quarry LP’s holdings in AppLovin were worth $98,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in APP. Atala Financial Inc purchased a new stake in shares of AppLovin during the first quarter worth about $26,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin during the first quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of AppLovin during the first quarter worth about $29,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of AppLovin during the first quarter worth about $29,000. Finally, SouthState Corp purchased a new stake in shares of AppLovin during the first quarter worth about $29,000. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In other news, insider Victoria Valenzuela sold 15,000 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $450.00, for a total value of $6,750,000.00. Following the sale, the insider owned 304,955 shares of the company’s stock, valued at approximately $137,229,750. This represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,564 shares of the 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 in the company, valued at approximately $23,356,619.72. This represents a 24.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,233,165 shares of company stock valued at $544,003,820. 13.66% of the stock is currently owned by company insiders.

AppLovin Price Performance

Shares of AppLovin stock opened at $487.35 on Thursday. The stock has a market cap of $164.85 billion, a price-to-earnings ratio of 69.23, a price-to-earnings-growth ratio of 2.68 and a beta of 2.44. 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 50 day moving average price of $395.88 and a 200-day moving average price of $348.91. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on APP shares. Zacks Research upgraded AppLovin to a “strong-buy” rating in a research report on Friday, August 8th. UBS Group increased their target price on AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Piper Sandler increased their target price on AppLovin from $470.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Benchmark reiterated a “buy” rating and set a $525.00 target price on shares of AppLovin in a research report on Thursday, May 8th. Finally, Wedbush reiterated an “outperform” rating and set a $620.00 target price on shares of AppLovin in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average 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.