Signature Estate & Investment Advisors LLC Raises Holdings in AppLovin Corporation $APP

Signature Estate & Investment Advisors LLC boosted its position in AppLovin Corporation (NASDAQ:APP) by 3,695.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,361 shares of the company’s stock after acquiring an additional 74,349 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in AppLovin were worth $39,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in AppLovin by 19.7% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 614 shares of the company’s stock worth $316,000 after acquiring an additional 101 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of AppLovin by 1.9% in the 2nd quarter. QRG Capital Management Inc. now owns 23,147 shares of the company’s stock valued at $11,926,000 after purchasing an additional 424 shares in the last quarter. Oxinas Partners LLC lifted its stake in shares of AppLovin by 35.3% in the 2nd quarter. Oxinas Partners LLC now owns 1,241 shares of the company’s stock valued at $639,000 after purchasing an additional 324 shares in the last quarter. Portside Wealth Group LLC lifted its stake in shares of AppLovin by 45.7% in the 2nd quarter. Portside Wealth Group LLC now owns 1,426 shares of the company’s stock valued at $735,000 after purchasing an additional 447 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in shares of AppLovin by 5.4% during the 2nd quarter. CWA Asset Management Group LLC now owns 12,362 shares of the company’s stock worth $6,369,000 after purchasing an additional 638 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $303.76 on Thursday. The firm has a market capitalization of $102.05 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. AppLovin Corporation has a one year low of $303.17 and a one year high of $745.61. The stock’s 50 day moving average price is $457.60 and its 200 day moving average price is $458.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.76. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. AppLovin’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter last year, the company earned $2.39 earnings per share. As a group, sell-side analysts expect that AppLovin Corporation will post 15.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the sale, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. The trade was a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 33,042 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This represents a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 393,000 shares of company stock valued at $197,297,363. Corporate insiders own 12.81% of the company’s stock.

Key Headlines 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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Needham & Company LLC reduced their price target on shares of AppLovin from $700.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Morgan Stanley dropped their price objective on shares of AppLovin from $720.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Piper Sandler lowered shares of AppLovin from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $665.00 to $385.00 in a report on Thursday, August 6th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $357.00 price target (down from $575.00) on shares of AppLovin in a research report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $565.91.

AppLovin Company 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.