United Asset Strategies Inc. Takes Position in AppLovin Corporation $APP

United Asset Strategies Inc. acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 14,923 shares of the company’s stock, valued at approximately $7,689,000.

A number of other large investors have also recently bought and sold shares of APP. Verdence Capital Advisors LLC increased its position in AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the last quarter. Finivi Inc. lifted its position in shares of AppLovin by 3.2% in the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock worth $479,000 after buying an additional 22 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of AppLovin by 2.8% during the 2nd quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock worth $438,000 after acquiring an additional 23 shares in the last quarter. Alta Wealth Advisors LLC boosted its stake in shares of AppLovin by 0.6% during the 4th quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock worth $2,645,000 after acquiring an additional 24 shares in the last quarter. Finally, Washington Trust Advisors Inc. increased its holdings 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. 41.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 22,544 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the transaction, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at approximately $1,152,157,026.32. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the company’s 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. The trade was a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 in the last 90 days. 12.81% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on APP shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. BTIG Research lowered their price target on AppLovin from $574.00 to $408.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler lowered shares of AppLovin from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $665.00 to $385.00 in a research report on Thursday, August 6th. Wells Fargo & Company restated an “equal weight” rating and issued a $357.00 price objective (down from $575.00) on shares of AppLovin in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada decreased their price objective on shares of AppLovin from $700.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $565.91.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin expects revenue growth to reaccelerate sequentially in the third quarter while maintaining an approximately 83% margin, even as it invests in additional AI computing capacity. The guidance supports the view that recent weakness may be temporary. AppLovin Q3 Guidance Signals Reacceleration After a Mixed Q2 Print
• Positive Sentiment: Phillip Securities upgraded APP from “moderate buy” to “strong buy.” BTIG also maintained a buy rating and set a $408 price target, implying substantial upside despite lowering its previous target of $574. BTIG AppLovin Price Target
• Positive Sentiment: Several investment commentaries characterize AppLovin as an attractive value opportunity after its steep decline, citing rapid revenue growth, high margins and strong earnings potential relative to valuation. AppLovin Won’t Be This Cheap for Long

AppLovin Stock Performance

APP opened at $303.76 on Thursday. The firm has a market capitalization of $102.05 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The stock’s 50 day moving average price is $457.60 and its two-hundred day moving average price is $458.54. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.11. AppLovin Corporation has a 12-month low of $303.17 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 EPS for the quarter, hitting the consensus estimate of $3.76. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business posted $2.39 EPS. The company’s revenue for the quarter was up 52.8% on a year-over-year basis. On average, equities analysts forecast that AppLovin Corporation will post 15.57 earnings per share for the current year.

About AppLovin

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.