111 Capital Takes $1.63 Million Position in AppLovin Corporation $APP

111 Capital bought a new stake in AppLovin Corporation (NASDAQ:APP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,642 shares of the company’s stock, valued at approximately $1,625,000.

A number of other large investors have also recently bought and sold shares of APP. Kingswood Wealth Advisors LLC raised its holdings in shares of AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock valued at $445,000 after buying an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in AppLovin by 62.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock valued at $45,675,000 after acquiring an additional 66,453 shares during the last quarter. Park Avenue Securities LLC lifted its position in AppLovin by 30.6% during the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock worth $7,313,000 after acquiring an additional 4,890 shares during the period. Yousif Capital Management LLC grew its stake in shares of AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock valued at $939,000 after purchasing an additional 119 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in shares of AppLovin by 15.6% in the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after purchasing an additional 6,104 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity

In other news, Director Eduardo Vivas sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares of the company’s stock, valued at $3,394,014,072. This trade represents a 1.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the sale, the insider directly owned 269,955 shares in the company, valued at approximately $135,579,499.65. The trade was a 11.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock worth $514,863,333 in the last three months. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on APP shares. Wells Fargo & Company increased their price target on AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Bank of America raised their target price on shares of AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. UBS Group increased their target price on AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, BTIG Research lifted their price target on AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have given 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 $578.86.

AppLovin Stock Performance

Shares of APP stock opened at $682.76 on Friday. The stock has a fifty day moving average price of $514.58 and a 200 day moving average price of $390.81. 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 market cap of $230.94 billion, a PE ratio of 96.98, a P/E/G ratio of 3.75 and a beta of 2.53. AppLovin Corporation has a 1 year low of $135.50 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last posted 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 company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.AppLovin’s revenue was up 77.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share. Sell-side analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

About AppLovin

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.