Advisory Services Network LLC Acquires 1,035 Shares of AppLovin Corporation $APP

Advisory Services Network LLC increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 4.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 26,340 shares of the company’s stock after purchasing an additional 1,035 shares during the period. Advisory Services Network LLC’s holdings in AppLovin were worth $9,221,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in AppLovin in the 2nd quarter worth approximately $951,541,000. Price T Rowe Associates Inc. MD increased its stake in shares of AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after buying an additional 1,769,400 shares during the period. Royal Bank of Canada raised its holdings in AppLovin by 61.1% in the 1st quarter. Royal Bank of Canada now owns 1,434,503 shares of the company’s stock worth $380,102,000 after purchasing an additional 544,107 shares in the last quarter. Amundi lifted its position in shares of AppLovin by 82.8% in the 1st quarter. Amundi now owns 1,103,586 shares of the company’s stock worth $289,117,000 after purchasing an additional 499,820 shares during the period. Finally, National Pension Service increased its position in shares of AppLovin by 82.2% during the second quarter. National Pension Service now owns 790,271 shares of the company’s stock valued at $276,658,000 after buying an additional 356,443 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 6.5%

Shares of AppLovin stock opened at $670.67 on Monday. The firm has a market cap of $226.65 billion, a price-to-earnings ratio of 81.39, a PEG ratio of 3.60 and a beta of 2.51. The business has a 50-day moving average price of $608.97 and a 200-day moving average price of $502.52. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61.

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

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 stock was sold at an average price of $545.38, for a total value 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. The trade was a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 150,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total value of $97,636,500.00. Following the sale, the director owned 7,133,292 shares in the company, valued at $4,643,131,095.72. The trade was a 2.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 332,727 shares of company stock valued at $195,062,520 in the last three months. Corporate insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

APP has been the topic of a number of research reports. 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppLovin in a report on Monday, December 8th. Bank of America raised their target price on shares of AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Morgan Stanley upped their price objective on AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft set a $705.00 price target on shares of AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Nineteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $692.60.

About AppLovin

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.