Trust Co. of Vermont Acquires New Stake in AppLovin Corporation $APP

Trust Co. of Vermont acquired a new stake in AppLovin Corporation (NASDAQ:APP) during the second quarter, according to its most recent filing with the SEC. The firm acquired 100 shares of the company’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atala Financial Inc purchased a new position in AppLovin in the 1st quarter valued at $26,000. Hoey Investments Inc. purchased a new stake in shares of AppLovin during the 2nd quarter worth $35,000. ORG Wealth Partners LLC purchased a new stake in shares of AppLovin during the 1st quarter worth $29,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin during the 1st quarter worth $27,000. Finally, ORG Partners LLC boosted its position in shares of AppLovin by 146.5% during the 2nd quarter. ORG Partners LLC now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 90,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares of the company’s stock, valued at approximately $1,103,147,536.16. The trade was a 3.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $432.49, for a total transaction 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 $78,682,473.21. The trade was a 52.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock worth $514,863,333 in the last ninety days. Company insiders own 13.66% of the company’s stock.

AppLovin Trading Down 0.1%

Shares of APP stock opened at $682.76 on Friday. The firm has a 50-day moving average price of $514.58 and a 200 day moving average price of $390.81. AppLovin Corporation has a twelve month low of $135.50 and a twelve month high of $745.61. The company has a market capitalization of $230.94 billion, a price-to-earnings ratio of 96.98, a PEG ratio of 3.75 and a beta of 2.53. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The firm’s revenue for the quarter was up 77.1% on a year-over-year basis. Research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of AppLovin from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Zacks Research upgraded shares of AppLovin to a “strong-buy” rating in a research report on Friday, August 8th. BTIG Research boosted their target price on shares of AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Bank of America boosted their target price on shares of AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $578.86.

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.