Moloney Securities Asset Management LLC Increases Stock Position in AppLovin Corporation $APP

Moloney Securities Asset Management LLC lifted its position in shares of AppLovin Corporation (NASDAQ:APP) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,006 shares of the company’s stock after acquiring an additional 58 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in AppLovin were worth $352,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of APP. Vanguard Group Inc. raised its position in shares of AppLovin by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AppLovin by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after buying an additional 1,769,400 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after buying an additional 1,185,859 shares during the last quarter. Invesco Ltd. increased its holdings in shares of AppLovin by 32.9% during the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock worth $1,062,876,000 after buying an additional 992,316 shares during the last quarter. Finally, Kensico Capital Management Corp boosted its position in AppLovin by 12.9% during the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock worth $762,849,000 after purchasing an additional 328,000 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 350 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $487.97, for a total value of $170,789.50. Following the sale, the director owned 3,150 shares in the company, valued at approximately $1,537,105.50. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 26,200 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the sale, the chief executive officer owned 2,590,054 shares in the company, valued at $1,140,219,472.42. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock worth $514,863,333 in the last ninety days. Insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Phillip Securities raised shares of AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. Jefferies Financial Group upped their price target on shares of AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Tuesday, August 26th. UBS Group upped their price objective on shares of AppLovin from $540.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Finally, Royal Bank Of Canada started coverage on shares of AppLovin in a research report on Monday, October 13th. They issued an “outperform” rating and a $700.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $605.13.

AppLovin Stock Performance

Shares of AppLovin stock opened at $620.00 on Friday. The firm has a market cap of $209.72 billion, a PE ratio of 88.07, a price-to-earnings-growth ratio of 3.37 and a beta of 2.53. The firm’s 50-day simple moving average is $569.09 and its 200-day simple moving average is $424.16. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a 1 year low of $158.33 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. AppLovin’s quarterly revenue was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. Equities analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal 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.