Vanguard Personalized Indexing Management LLC Raises Holdings in AppLovin Corporation $APP

Vanguard Personalized Indexing Management LLC increased its position in AppLovin Corporation (NASDAQ:APP) by 6.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 33,183 shares of the company’s stock after buying an additional 2,055 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in AppLovin were worth $11,617,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Kingswood Wealth Advisors LLC raised its position in shares of AppLovin by 5.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock worth $445,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock worth $45,675,000 after buying an additional 66,453 shares during the period. Park Avenue Securities LLC raised its position in shares of AppLovin by 30.6% in the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock worth $7,313,000 after buying an additional 4,890 shares during the period. Yousif Capital Management LLC raised its position in shares of AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after buying an additional 119 shares during the period. Finally, IFM Investors Pty Ltd raised its position in AppLovin by 15.6% in the second quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after purchasing an additional 6,104 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Down 5.1%

Shares of AppLovin stock opened at $569.89 on Monday. The business has a 50-day moving average of $537.64 and a 200-day moving average of $402.05. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market capitalization of $192.77 billion, a PE ratio of 80.95, a P/E/G ratio of 3.09 and a beta of 2.53. AppLovin Corporation has a 1-year low of $139.40 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company’s revenue was up 77.1% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. As a group, equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the completion of the transaction, the chief executive officer owned 2,590,054 shares of the company’s stock, valued at $1,140,219,472.42. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock valued at $514,863,333 over the last ninety days. Insiders own 13.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley raised their price objective on AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Bank of America raised their price objective on AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of AppLovin in a research report on Wednesday, October 8th. Scotiabank reissued an “outperform” rating on shares of AppLovin in a research report on Thursday, August 28th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $597.38.

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.