Dynasty Wealth Management LLC Acquires 2,700,399 Shares of AppLovin Corporation (NASDAQ:APP)

Dynasty Wealth Management LLC raised its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 117,664.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,702,694 shares of the company’s stock after purchasing an additional 2,700,399 shares during the period. AppLovin accounts for approximately 10.2% of Dynasty Wealth Management LLC’s holdings, making the stock its biggest holding. Dynasty Wealth Management LLC owned about 0.80% of AppLovin worth $716,133,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC grew its stake in shares of AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock worth $445,000 after purchasing an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of AppLovin by 62.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock worth $45,675,000 after purchasing an additional 66,453 shares during the period. Yousif Capital Management LLC grew its stake in shares of AppLovin by 3.5% during the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after purchasing an additional 119 shares during the period. Peak Retirement Planning Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth $969,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of AppLovin by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company’s stock worth $1,106,000 after purchasing an additional 121 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 100,000 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $419.91, for a total transaction of $41,991,000.00. Following the sale, the director owned 181,929 shares in the company, valued at approximately $76,393,806.39. This represents a 35.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 513 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $420.30, for a total value of $215,613.90. Following the sale, the director owned 3,451 shares in the company, valued at $1,450,455.30. The trade was a 12.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Corporate insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APP. Benchmark reaffirmed a “buy” rating and set a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. FBN Securities started coverage on AppLovin in a research note on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. Piper Sandler reissued an “overweight” rating and issued a $470.00 target price (up from $455.00) on shares of AppLovin in a research note on Thursday, June 26th. HSBC set a $436.00 target price on AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, Loop Capital reissued a “buy” rating and issued a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.43.

AppLovin Stock Performance

Shares of AppLovin stock opened at $355.50 on Thursday. The firm has a market cap of $120.30 billion, a price-to-earnings ratio of 64.17, a price-to-earnings-growth ratio of 2.10 and a beta of 2.42. The stock’s 50-day moving average is $361.32 and its 200-day moving average is $334.61. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 earnings per share. Equities analysts predict that AppLovin Corporation will post 6.87 earnings per share 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.