Yeomans Consulting Group Inc. Acquires New Shares in AppLovin Corporation $APP

Yeomans Consulting Group Inc. acquired a new position in AppLovin Corporation (NASDAQ:APP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 929 shares of the company’s stock, valued at approximately $313,000.

Other institutional investors have also added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in shares of AppLovin in the 2nd quarter worth approximately $26,000. J. Safra Sarasin Holding AG lifted its holdings in AppLovin by 66.5% during the second quarter. J. Safra Sarasin Holding AG now owns 2,146 shares of the company’s stock worth $751,000 after buying an additional 857 shares during the period. ASR Vermogensbeheer N.V. boosted its position in AppLovin by 25.8% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 21,895 shares of the company’s stock valued at $7,664,000 after acquiring an additional 4,490 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in shares of AppLovin in the 2nd quarter valued at $32,289,000. Finally, Deltec Asset Management LLC purchased a new position in shares of AppLovin in the 2nd quarter valued at $350,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 35,000 shares of the firm’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 completion of the transaction, the insider directly owned 269,955 shares in the company, valued at $135,579,499.65. This trade represents 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, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were 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 owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,156,788 shares of company stock valued at $514,863,333. Insiders own 13.66% of the company’s stock.

AppLovin Trading Down 2.9%

Shares of AppLovin stock opened at $683.64 on Friday. The firm’s 50 day simple moving average is $508.20 and its two-hundred day simple moving average is $388.02. The firm has a market capitalization of $231.24 billion, a price-to-earnings ratio of 97.11, a PEG ratio of 3.86 and a beta of 2.53. AppLovin Corporation has a 12-month low of $130.54 and a 12-month high of $745.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

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

Wall Street Analyst Weigh In

APP has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Tuesday, August 26th. Bank of America increased their price target on shares of AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer lifted their price objective on shares of AppLovin from $500.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Citigroup boosted their price objective on shares of AppLovin from $600.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Zacks Research upgraded shares of AppLovin to a “strong-buy” rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $578.86.

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.