Yarbrough Capital LLC Buys 4,490 Shares of AppLovin Corporation $APP

Yarbrough Capital LLC grew its stake in AppLovin Corporation (NASDAQ:APP) by 121.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,198 shares of the company’s stock after buying an additional 4,490 shares during the quarter. Yarbrough Capital LLC’s holdings in AppLovin were worth $2,870,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Atala Financial Inc bought a new position in AppLovin during the 1st quarter worth about $26,000. Alpine Bank Wealth Management bought a new position in shares of AppLovin during the first quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in shares of AppLovin during the first quarter worth about $29,000. Bartlett & CO. Wealth Management LLC acquired a new stake in AppLovin in the 1st quarter valued at approximately $29,000. Finally, SouthState Corp bought a new stake in AppLovin in the 1st quarter valued at approximately $29,000. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on APP shares. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. Wedbush increased their target price on shares of AppLovin from $620.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Wells Fargo & Company lifted their price target on shares of AppLovin from $480.00 to $491.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Zacks Research upgraded shares of AppLovin to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Piper Sandler raised their price objective on AppLovin from $470.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $513.38.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 35,000 shares of the firm’s stock in a transaction on 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 approximately $135,579,499.65. This trade represents a 11.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is currently owned by company insiders.

AppLovin Stock Performance

APP opened at $651.18 on Wednesday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The business has a fifty day simple moving average of $463.24 and a 200 day simple moving average of $368.98. AppLovin Corporation has a 1 year low of $125.62 and a 1 year high of $670.19. The company has a market capitalization of $220.26 billion, a PE ratio of 92.50, a price-to-earnings-growth ratio of 3.56 and a beta of 2.44.

AppLovin (NASDAQ:APP) last posted its earnings results 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 company 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 company’s revenue was up 77.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. Research analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

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.