Voya Investment Management LLC Has $356.80 Million Stake in AppLovin Corporation $APP

Voya Investment Management LLC grew its position in AppLovin Corporation (NASDAQ:APP) by 235.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 496,560 shares of the company’s stock after buying an additional 348,548 shares during the quarter. Voya Investment Management LLC owned 0.15% of AppLovin worth $356,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Avestar Capital LLC increased its stake in AppLovin by 2.1% in the second quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock valued at $391,000 after acquiring an additional 23 shares during the last quarter. RWA Wealth Partners LLC boosted its holdings in shares of AppLovin by 0.4% in the 2nd quarter. RWA Wealth Partners LLC now owns 7,680 shares of the company’s stock valued at $2,689,000 after purchasing an additional 33 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of AppLovin by 0.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,431 shares of the company’s stock valued at $1,551,000 after purchasing an additional 33 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of AppLovin by 32.7% during the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock worth $48,000 after buying an additional 34 shares in the last quarter. Finally, PFG Advisors raised its holdings in shares of AppLovin by 1.2% during the 2nd quarter. PFG Advisors now owns 3,203 shares of the company’s stock worth $1,121,000 after buying an additional 37 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the sale, the chief technology officer owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matthew Stumpf sold 4,884 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $515.76, for a total value of $2,518,971.84. Following the completion of the sale, the chief financial officer directly owned 191,161 shares of the company’s stock, valued at approximately $98,593,197.36. The trade was a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 332,727 shares of company stock worth $195,062,520. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APP. Scotiabank raised their price objective on AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Piper Sandler lifted their price target on shares of AppLovin from $740.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. UBS Group reiterated a “buy” rating and set a $775.00 price objective on shares of AppLovin in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of AppLovin in a research report on Monday. Nineteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $695.90.

AppLovin Stock Up 5.7%

Shares of NASDAQ APP opened at $694.37 on Friday. The company has a 50 day simple moving average of $614.07 and a 200 day simple moving average of $509.01. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The firm has a market cap of $234.66 billion, a PE ratio of 84.27, a price-to-earnings-growth ratio of 3.53 and a beta of 2.51.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company’s revenue for the quarter was up 68.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 EPS. On average, research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin 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.