AppLovin Corporation $APP Shares Acquired by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 285.8% during the first quarter, Holdings Channel reports. The firm owned 4,398 shares of the company’s stock after purchasing an additional 3,258 shares during the quarter. Geneos Wealth Management Inc.’s holdings in AppLovin were worth $1,165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of APP. Atala Financial Inc acquired a new stake in shares of AppLovin during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin during the first quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin during the first quarter worth $29,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of AppLovin during the first quarter worth $29,000. Finally, SouthState Corp acquired a new stake in shares of AppLovin during the first quarter worth $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP stock opened at $582.00 on Friday. AppLovin Corporation has a 1-year low of $105.94 and a 1-year high of $587.88. 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 market capitalization of $196.86 billion, a price-to-earnings ratio of 82.67, a P/E/G ratio of 3.19 and a beta of 2.44. The stock’s fifty day simple moving average is $424.50 and its 200-day simple moving average is $353.48.

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

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 35,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $502.23, for a total value of $17,578,050.00. Following the transaction, the insider owned 269,955 shares in the company, valued at $135,579,499.65. The trade was a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 90,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares in the company, valued at $1,103,147,536.16. This trade represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Corporate insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Morgan Stanley lifted their price target on AppLovin from $460.00 to $480.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Scotiabank reiterated an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Finally, Wall Street Zen downgraded AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $487.86.

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.