Arrowstreet Capital Limited Partnership Raises Stock Holdings in AppLovin Corporation $APP

Arrowstreet Capital Limited Partnership boosted its holdings in AppLovin Corporation (NASDAQ:APP) by 82.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 632,819 shares of the company’s stock after purchasing an additional 285,353 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.19% of AppLovin worth $251,862,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Inceptionr LLC bought a new stake in shares of AppLovin in the 1st quarter worth approximately $453,000. Liberty One Investment Management LLC grew its stake in shares of AppLovin by 187.9% during the 1st quarter. Liberty One Investment Management LLC now owns 763 shares of the company’s stock worth $304,000 after acquiring an additional 498 shares during the period. Sei Investments Co. increased its holdings in AppLovin by 16.2% in the 1st quarter. Sei Investments Co. now owns 471,774 shares of the company’s stock worth $187,768,000 after acquiring an additional 65,890 shares during the last quarter. State of Wyoming bought a new stake in AppLovin in the 1st quarter valued at about $59,000. Finally, Alpha Family Trust raised its stake in AppLovin by 38.9% in the 1st quarter. Alpha Family Trust now owns 1,875 shares of the company’s stock valued at $746,000 after acquiring an additional 525 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer owned 3,189,739 shares in the company, valued at $1,545,173,366.38. This represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on APP. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of AppLovin in a report on Thursday, May 28th. Wells Fargo & Company increased their target price on shares of AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Wedbush reissued an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Finally, UBS Group cut their price target on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $668.45.

AppLovin Stock Performance

Shares of APP stock opened at $391.98 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a fifty-two week low of $357.03 and a fifty-two week high of $745.61. The stock has a 50 day moving average price of $498.97 and a two-hundred day moving average price of $480.08. The company has a market capitalization of $131.68 billion, a P/E ratio of 33.68, a PEG ratio of 0.65 and a beta of 2.49.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the business earned $1.67 earnings per share. Analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current year.

About AppLovin

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.