CW Advisors LLC Purchases 3,720 Shares of AppLovin Corporation $APP

CW Advisors LLC boosted its position in AppLovin Corporation (NASDAQ:APP) by 63.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,564 shares of the company’s stock after buying an additional 3,720 shares during the quarter. CW Advisors LLC’s holdings in AppLovin were worth $3,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in APP. JT Stratford LLC purchased a new stake in AppLovin in the 2nd quarter worth about $211,000. Twin Peaks Wealth Advisors LLC bought a new position in AppLovin during the second quarter worth about $33,000. Berbice Capital Management LLC increased its stake in shares of AppLovin by 17.4% in the second quarter. Berbice Capital Management LLC now owns 3,200 shares of the company’s stock worth $1,120,000 after purchasing an additional 475 shares in the last quarter. Pinkerton Wealth LLC bought a new stake in shares of AppLovin in the second quarter valued at approximately $1,055,000. Finally, Beacon Pointe Advisors LLC lifted its stake in shares of AppLovin by 148.8% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 7,000 shares of the company’s stock valued at $2,451,000 after buying an additional 4,186 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APP shares. Wedbush boosted their target price on shares of AppLovin from $745.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Citigroup reduced their price target on AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Wells Fargo & Company boosted their price objective on AppLovin from $633.00 to $721.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. UBS Group raised 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. Finally, Royal Bank Of Canada lifted their target price on AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Nineteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $679.85.

AppLovin Price Performance

NASDAQ:APP opened at $691.94 on Friday. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The stock has a fifty day moving average of $608.89 and a 200 day moving average of $489.81. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. The firm has a market capitalization of $233.84 billion, a price-to-earnings ratio of 83.97, a P/E/G ratio of 3.71 and a beta of 2.51.

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

Insider Buying and Selling

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

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.