Strs Ohio Increases Stock Holdings in AppLovin Corporation $APP

Strs Ohio boosted its position in AppLovin Corporation (NASDAQ:APP) by 10.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 357,924 shares of the company’s stock after purchasing an additional 32,707 shares during the period. AppLovin comprises about 0.5% of Strs Ohio’s investment portfolio, making the stock its 25th biggest position. Strs Ohio’s holdings in AppLovin were worth $125,302,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vestcor Inc lifted its position in shares of AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company’s stock valued at $1,088,000 after buying an additional 33 shares in the last quarter. Fortitude Family Office LLC increased its stake in AppLovin by 32.7% in the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock worth $48,000 after acquiring an additional 34 shares during the last quarter. GSG Advisors LLC increased its stake in AppLovin by 0.3% in the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock worth $2,820,000 after acquiring an additional 35 shares during the last quarter. LMG Wealth Partners LLC increased its stake in AppLovin by 0.5% in the 2nd quarter. LMG Wealth Partners LLC now owns 7,941 shares of the company’s stock worth $2,780,000 after acquiring an additional 39 shares during the last quarter. Finally, Argentarii LLC increased its stake in 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 during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wedbush lifted their target price on AppLovin from $725.00 to $745.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Benchmark upped their target price on AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Royal Bank Of Canada began coverage on AppLovin in a report on Monday, October 13th. They issued an “outperform” rating and a $700.00 target price for the company. Deutsche Bank Aktiengesellschaft set a $705.00 target price on AppLovin and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings cut AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $605.13.

AppLovin Trading Up 0.7%

Shares of NASDAQ:APP opened at $631.20 on Thursday. The business’s 50-day moving average is $581.84 and its 200 day moving average is $432.98. AppLovin Corporation has a 1 year low of $158.33 and a 1 year high of $745.61. The firm has a market capitalization of $213.50 billion, a P/E ratio of 89.66, a P/E/G ratio of 3.40 and a beta of 2.53. 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 (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $0.89 EPS. The firm’s quarterly revenue was up 77.1% compared to the same quarter last year. On average, research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction of $17,578,050.00. Following the sale, the insider directly owned 269,955 shares of the company’s stock, valued at $135,579,499.65. This trade represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the sale, the chief technology officer directly owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 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.