2,173 Shares in AppLovin Corporation $APP Acquired by FCG Investment Co

FCG Investment Co acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) during the second quarter, HoldingsChannel reports. The firm acquired 2,173 shares of the company’s stock, valued at approximately $761,000.

Other hedge funds have also added to or reduced their stakes in the company. Vestcor Inc grew its position in shares of AppLovin by 0.8% in the 1st quarter. Vestcor Inc now owns 4,108 shares of the company’s stock valued at $1,088,000 after acquiring an additional 33 shares during the period. Fortitude Family Office LLC boosted its stake in shares of AppLovin by 32.7% in the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock valued at $48,000 after purchasing an additional 34 shares during the last quarter. GSG Advisors LLC raised its holdings in AppLovin by 0.3% during the first quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock worth $2,820,000 after buying an additional 35 shares during the last quarter. Argentarii LLC grew its stake in shares of AppLovin by 1.5% in the 1st quarter. Argentarii LLC now owns 2,638 shares of the company’s stock worth $699,000 after acquiring an additional 40 shares in the last quarter. Finally, Atlas Capital Advisors Inc. grew its position in AppLovin by 11.3% during the first quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company’s stock valued at $104,000 after buying an additional 40 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction that occurred 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 in the company, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the transaction, the chief technology officer owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock valued at $514,863,333 over the last 90 days. Company insiders own 13.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APP. Benchmark increased their price target on shares of AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Oppenheimer lifted their price target on shares of AppLovin from $500.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wall Street Zen cut shares of AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Morgan Stanley raised their target price on shares of AppLovin from $460.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Finally, Citigroup restated a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. Two investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $513.38.

AppLovin Trading Down 0.3%

AppLovin stock opened at $639.91 on Friday. The firm’s 50 day moving average price is $474.49 and its 200-day moving average price is $373.64. AppLovin Corporation has a 1 year low of $125.62 and a 1 year high of $670.19. The stock has a market cap of $216.45 billion, a P/E ratio of 90.90, a PEG ratio of 3.55 and a beta of 2.44. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion for 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%. The business’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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.