Baird Financial Group Inc. Makes New $5.23 Million Investment in AppLovin Corporation $APP

Baird Financial Group Inc. purchased a new position in AppLovin Corporation (NASDAQ:APP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,949 shares of the company’s stock, valued at approximately $5,233,000.

Other institutional investors also recently bought and sold shares of the company. Aberdeen Group plc grew its position in AppLovin by 6.5% in the second quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock worth $39,972,000 after acquiring an additional 7,001 shares during the period. Legal Advantage Investments Inc. acquired a new position in shares of AppLovin in the 2nd quarter valued at $1,523,000. IFM Investors Pty Ltd grew its holdings in shares of AppLovin by 15.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after purchasing an additional 6,104 shares during the period. Park Avenue Securities LLC increased its position in shares of AppLovin by 30.6% during the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock worth $7,313,000 after purchasing an additional 4,890 shares during the last quarter. Finally, Lee Johnson Capital Management LLC raised its holdings in AppLovin by 13.6% in the 2nd quarter. Lee Johnson Capital Management LLC now owns 12,449 shares of the company’s stock valued at $4,358,000 after buying an additional 1,491 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

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

AppLovin Stock Up 5.1%

Shares of NASDAQ:APP opened at $724.62 on Wednesday. The firm has a 50 day simple moving average of $608.56 and a 200-day simple moving average of $495.73. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $244.89 billion, a PE ratio of 87.94, a P/E/G ratio of 3.70 and a beta of 2.51.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on APP shares. Scotiabank upped their price objective on shares of AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group lifted their price objective on AppLovin from $560.00 to $615.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Royal Bank Of Canada increased their target price on AppLovin from $700.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, The Goldman Sachs Group raised their target price on AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Nineteen research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $679.85.

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.