AppLovin Corporation $APP Shares Purchased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. increased its position in shares of AppLovin Corporation (NASDAQ:APP) by 139.0% in the second quarter, HoldingsChannel.com reports. The firm owned 20,560 shares of the company’s stock after acquiring an additional 11,959 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in AppLovin were worth $7,198,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new position in AppLovin in the fourth quarter valued at $294,000. Bison Wealth LLC acquired a new position in AppLovin in the fourth quarter valued at $239,000. Fifth Third Bancorp boosted its stake in AppLovin by 174.5% in the first quarter. Fifth Third Bancorp now owns 269 shares of the company’s stock valued at $71,000 after acquiring an additional 171 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in AppLovin by 62.7% in the first 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 in the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in AppLovin in the first quarter valued at $281,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on APP. Phillip Securities upgraded shares of AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Benchmark upped their price objective on shares of AppLovin from $525.00 to $640.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Morgan Stanley upped their target price on shares of AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppLovin in a report on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $600.59.

Insider Buying and Selling

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $432.49, for a total value of $86,498,000.00. Following the completion of the transaction, the director directly owned 181,929 shares of the company’s stock, valued at approximately $78,682,473.21. This trade represents a 52.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction dated 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 approximately $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock valued at $514,863,333 in the last 90 days. 13.66% of the stock is owned by corporate insiders.

AppLovin Trading Down 1.1%

Shares of AppLovin stock opened at $599.31 on Friday. AppLovin Corporation has a 12-month low of $141.35 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. The stock has a market cap of $202.72 billion, a PE ratio of 85.13, a price-to-earnings-growth ratio of 3.29 and a beta of 2.53. The company has a 50-day moving average of $556.25 and a two-hundred day moving average of $411.45.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) 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 company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the company posted $0.89 earnings per share. The firm’s quarterly revenue was up 77.1% compared to the same quarter last year. On average, research analysts anticipate that AppLovin Corporation will post 6.87 EPS 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.