Acadian Asset Management LLC Acquires 7,113 Shares of AppLovin Corporation $APP

Acadian Asset Management LLC grew its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 65.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,960 shares of the company’s stock after acquiring an additional 7,113 shares during the period. Acadian Asset Management LLC’s holdings in AppLovin were worth $4,752,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of APP. Atala Financial Inc acquired a new stake in AppLovin in the first quarter worth $26,000. Alpine Bank Wealth Management bought a new position in shares of AppLovin during the first quarter valued at about $27,000. ORG Wealth Partners LLC bought a new position in shares of AppLovin during the first quarter valued at about $29,000. Bartlett & CO. Wealth Management LLC bought a new stake in AppLovin in the first quarter worth about $29,000. Finally, SouthState Corp bought a new stake in AppLovin in the first quarter worth about $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 26,200 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 350 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $487.97, for a total transaction of $170,789.50. Following the transaction, the director owned 3,150 shares in the company, valued at $1,537,105.50. This trade represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

APP opened at $582.00 on Friday. The company has a market cap of $196.86 billion, a price-to-earnings ratio of 82.67, a PEG ratio of 3.19 and a beta of 2.44. AppLovin Corporation has a 12-month low of $105.94 and a 12-month high of $587.88. The company’s 50 day moving average is $424.50 and its 200 day moving average is $353.63. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

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

Analyst Ratings Changes

Several analysts have recently issued reports on APP shares. Wall Street Zen lowered shares of AppLovin from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Piper Sandler boosted their price target on shares of AppLovin from $470.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Wells Fargo & Company upped their price objective on shares of AppLovin from $480.00 to $491.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Finally, Morgan Stanley upped their price target on shares of AppLovin from $460.00 to $480.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $487.86.

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.