Independent Financial Group LLC Makes New $2.48 Million Investment in AppLovin Corporation $APP

Independent Financial Group LLC purchased a new stake in shares of AppLovin Corporation (NASDAQ:APP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,223 shares of the company’s stock, valued at approximately $2,477,000.

Several other institutional investors have also modified their holdings of the company. Washington Trust Advisors Inc. boosted its position in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 24 shares during the period. Board of the Pension Protection Fund acquired a new stake in AppLovin in the 4th quarter valued at approximately $27,000. Mcguire Capital Advisors Inc. bought a new stake in AppLovin during the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC bought a new stake in AppLovin during the 4th quarter valued at $32,000. Finally, Osbon Capital Management LLC acquired a new position in AppLovin during the 4th quarter worth $36,000. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of several recent analyst reports. Argus started coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target for the company. Weiss Ratings upgraded shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Wedbush reaffirmed an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. UBS Group decreased their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $668.45.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the sale, the director directly owned 6,785,087 shares in the company, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the sale, the director owned 120,444 shares in the company, valued at $62,786,252.76. The trade was a 2.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 393,000 shares of company stock worth $197,297,363 in the last ninety days. Insiders own 13.66% of the company’s stock.

AppLovin Stock Down 2.3%

APP opened at $424.54 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market capitalization of $142.62 billion, a PE ratio of 36.47, a P/E/G ratio of 0.69 and a beta of 2.49. The stock’s fifty day moving average is $506.01 and its 200-day moving average is $489.19. AppLovin Corporation has a one year low of $343.00 and a one year high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company’s quarterly revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the business posted $1.67 earnings per share. On average, equities analysts predict that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.