Inspire Investing LLC Purchases 5,965 Shares of AppLovin Corporation $APP

Inspire Investing LLC lifted its position in AppLovin Corporation (NASDAQ:APP) by 74.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,965 shares of the company’s stock after buying an additional 5,965 shares during the quarter. Inspire Investing LLC’s holdings in AppLovin were worth $4,889,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Atala Financial Inc bought a new stake in shares of AppLovin in the 1st quarter valued at approximately $26,000. Hilltop National Bank bought a new stake in shares of AppLovin in the 2nd quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new stake in shares of AppLovin in the 1st quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of AppLovin in the 1st quarter valued at approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of AppLovin in the 1st quarter valued at approximately $29,000. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 350 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $487.97, for a total transaction of $170,789.50. Following the sale, the director directly owned 3,150 shares in the company, valued at approximately $1,537,105.50. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the sale, the insider owned 269,955 shares in the company, valued at approximately $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Company insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley boosted their target price on AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. UBS Group boosted their target price on AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Piper Sandler boosted their target price on AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Bank of America boosted their target price on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Wedbush boosted 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. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $597.38.

AppLovin Stock Down 5.1%

Shares of APP stock opened at $569.89 on Friday. AppLovin Corporation has a 12 month low of $139.40 and a 12 month high of $745.61. The firm has a market cap of $192.77 billion, a PE ratio of 80.95, a price-to-earnings-growth ratio of 3.26 and a beta of 2.53. The stock has a 50 day moving average of $537.64 and a 200-day moving average of $400.57. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.AppLovin’s quarterly revenue was up 77.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 earnings per share. On average, equities analysts predict that AppLovin Corporation will post 6.87 EPS for the current 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.