Avenir Tech Ltd Purchases New Shares in AppLovin Corporation $APP

Avenir Tech Ltd acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,600 shares of the company’s stock, valued at approximately $2,661,000. AppLovin accounts for about 0.2% of Avenir Tech Ltd’s holdings, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in APP. Daiwa Securities Group Inc. lifted its holdings in shares of AppLovin by 23.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 73,808 shares of the company’s stock worth $25,839,000 after acquiring an additional 14,232 shares during the last quarter. Q Fund Management Hong Kong Ltd purchased a new stake in AppLovin in the 2nd quarter worth about $350,000. WINTON GROUP Ltd bought a new stake in AppLovin in the second quarter worth about $2,303,000. Ossiam lifted its stake in AppLovin by 15.3% in the second quarter. Ossiam now owns 4,869 shares of the company’s stock worth $1,705,000 after purchasing an additional 645 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of AppLovin by 21.7% during the second quarter. Federated Hermes Inc. now owns 499,002 shares of the company’s stock valued at $174,691,000 after buying an additional 88,977 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a report on Friday, September 5th. UBS Group increased their target price on AppLovin from $810.00 to $840.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Morgan Stanley lifted their target price on AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Nineteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $679.85.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $545.38, for a total value of $14,803,249.34. Following the transaction, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 30,888 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the transaction, the chief executive officer owned 2,553,161 shares of the company’s stock, valued at approximately $1,328,384,136.69. This trade represents a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 332,577 shares of company stock worth $194,958,522. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $689.76 on Tuesday. The firm has a 50 day moving average of $608.43 and a 200 day moving average of $493.12. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $233.10 billion, a price-to-earnings ratio of 83.71, a price-to-earnings-growth ratio of 3.71 and a beta of 2.51. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The business’s revenue was up 68.2% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. On average, sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal 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.