D.A. Davidson & CO. Purchases Shares of 741 AppLovin Corporation $APP

D.A. Davidson & CO. purchased a new stake in shares of AppLovin Corporation (NASDAQ:APP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 741 shares of the company’s stock, valued at approximately $259,000.

A number of other hedge funds have also recently modified their holdings of the stock. Vestcor Inc boosted its stake in shares of AppLovin by 0.8% in the first quarter. Vestcor Inc now owns 4,108 shares of the company’s stock worth $1,088,000 after buying an additional 33 shares during the last quarter. Fortitude Family Office LLC boosted its position in AppLovin by 32.7% during the second quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock worth $48,000 after purchasing an additional 34 shares in the last quarter. GSG Advisors LLC boosted its position in AppLovin by 0.3% during the first quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock worth $2,820,000 after purchasing an additional 35 shares in the last quarter. LMG Wealth Partners LLC boosted its position in AppLovin by 0.5% during the second quarter. LMG Wealth Partners LLC now owns 7,941 shares of the company’s stock worth $2,780,000 after purchasing an additional 39 shares in the last quarter. Finally, Argentarii LLC boosted its position in AppLovin by 1.5% during the first quarter. Argentarii LLC now owns 2,638 shares of the company’s stock worth $699,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on APP shares. The Goldman Sachs Group reissued a “neutral” rating and set a $630.00 target price on shares of AppLovin in a report on Tuesday, October 14th. Citigroup increased their price target on AppLovin from $600.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Jefferies Financial Group increased their price target on AppLovin from $560.00 to $615.00 and gave the company a “buy” rating in a report on Friday, September 5th. Morgan Stanley increased their price target on AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Finally, Wall Street Zen cut AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $605.13.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the sale, the chief technology officer directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 350 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 3,150 shares in the company, valued at approximately $1,537,105.50. This represents a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,156,788 shares of company stock valued at $514,863,333 in the last three months. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Down 1.7%

APP opened at $620.62 on Friday. The firm has a market cap of $209.92 billion, a P/E ratio of 88.16, a P/E/G ratio of 3.43 and a beta of 2.53. The business has a fifty day simple moving average of $585.88 and a 200-day simple moving average of $434.29. AppLovin Corporation has a 52 week low of $158.33 and a 52 week high of $745.61. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

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

AppLovin Company 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.