Legal Advantage Investments Inc. Acquires 2,510 Shares of AppLovin Corporation $APP

Legal Advantage Investments Inc. raised its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 46.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,885 shares of the company’s stock after acquiring an additional 2,510 shares during the period. AppLovin makes up about 1.6% of Legal Advantage Investments Inc.’s investment portfolio, making the stock its 26th largest position. Legal Advantage Investments Inc.’s holdings in AppLovin were worth $3,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Washington Trust Advisors Inc. boosted its position in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Board of the Pension Protection Fund bought a new position in shares of AppLovin in the fourth quarter worth approximately $27,000. Mcguire Capital Advisors Inc. bought a new position in shares of AppLovin in the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in AppLovin in the fourth quarter valued at approximately $32,000. Finally, Graney & King LLC purchased a new stake in AppLovin in the third quarter valued at approximately $36,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APP has been the subject of several research analyst reports. Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Wells Fargo & Company increased their price target on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Argus assumed coverage on shares of AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. Arete Research set a $340.00 price objective on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Finally, Wedbush reiterated an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $669.62.

AppLovin Stock Performance

NASDAQ:APP opened at $467.02 on Wednesday. The company has a market capitalization of $156.89 billion, a price-to-earnings ratio of 40.12, a PEG ratio of 0.76 and a beta of 2.45. The business has a 50 day moving average of $495.55 and a 200 day moving average of $514.39. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 1-year low of $325.58 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period last year, the business earned $1.67 earnings per share. On average, sell-side analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction on Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the completion of the transaction, the director owned 123,520 shares in the company, valued at approximately $71,893,580.80. The trade was a 2.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 389,924 shares of company stock worth $195,693,875 in the last ninety days. 13.66% of the stock is currently owned by insiders.

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.