Copperwynd Financial LLC Purchases 391 Shares of AppLovin Corporation $APP

Copperwynd Financial LLC increased its stake in AppLovin Corporation (NASDAQ:APP) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,434 shares of the company’s stock after purchasing an additional 391 shares during the period. Copperwynd Financial LLC’s holdings in AppLovin were worth $2,953,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in AppLovin by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in AppLovin by 36.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the last quarter. Baillie Gifford & Co. raised its position in AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares during the last quarter. Invesco Ltd. raised its position in AppLovin by 32.9% in the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock worth $1,062,876,000 after purchasing an additional 992,316 shares during the last quarter. Finally, Kensico Capital Management Corp raised its position in AppLovin by 12.9% in the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock worth $762,849,000 after purchasing an additional 328,000 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APP. Bank of America boosted their price objective on shares of AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Benchmark increased their price target on AppLovin from $525.00 to $640.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Wall Street Zen downgraded AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Piper Sandler increased their price target on AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Jefferies Financial Group increased their price target on AppLovin from $560.00 to $615.00 and gave the company a “buy” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $597.38.

AppLovin Stock Performance

APP stock opened at $629.70 on Thursday. The business’s 50-day moving average price is $529.63 and its two-hundred day moving average price is $397.23. 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 firm has a market cap of $213.00 billion, a PE ratio of 89.45, a P/E/G ratio of 3.46 and a beta of 2.53. AppLovin Corporation has a 1-year low of $139.40 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, topping the consensus estimate of $2.05 by $0.21. The firm 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%.The company’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. As a group, research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Activity

In related news, insider Victoria Valenzuela sold 35,000 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 269,955 shares of the company’s stock, valued at approximately $135,579,499.65. This represents a 11.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,054 shares of the company’s stock, valued at approximately $1,103,147,536.16. The trade was a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,156,788 shares of company stock valued at $514,863,333. Company insiders own 13.66% of the company’s stock.

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.