Wellington Shields Capital Management LLC Acquires New Holdings in AppLovin Corporation $APP

Wellington Shields Capital Management LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 500 shares of the company’s stock, valued at approximately $175,000.

A number of other large investors have also added to or reduced their stakes in APP. Vestcor Inc raised its holdings in AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company’s stock worth $1,088,000 after purchasing an additional 33 shares during the last quarter. Fortitude Family Office LLC raised its holdings in AppLovin by 32.7% during the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock worth $48,000 after purchasing an additional 34 shares during the last quarter. GSG Advisors LLC raised its holdings in AppLovin by 0.3% during the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock worth $2,820,000 after purchasing an additional 35 shares during the last quarter. LMG Wealth Partners LLC raised its holdings in AppLovin by 0.5% during the 2nd quarter. LMG Wealth Partners LLC now owns 7,941 shares of the company’s stock worth $2,780,000 after purchasing an additional 39 shares during the last quarter. Finally, Atlas Capital Advisors Inc. raised its holdings in AppLovin by 11.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company’s stock worth $104,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 350 shares of AppLovin stock in a transaction on Friday, September 5th. The shares were sold at an average price of $487.97, for a total value of $170,789.50. Following the completion of the sale, the director owned 3,150 shares of the company’s stock, valued at approximately $1,537,105.50. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the sale, the chief executive officer directly owned 2,590,054 shares of the company’s stock, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is owned by company insiders.

AppLovin Stock Performance

Shares of APP stock opened at $632.14 on Tuesday. The company has a market cap of $213.82 billion, a price-to-earnings ratio of 89.79, a price-to-earnings-growth ratio of 3.46 and a beta of 2.50. AppLovin Corporation has a 52 week low of $158.33 and a 52 week high of $745.61. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a 50 day moving average of $593.42 and a 200-day moving average of $442.65.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on APP shares. Piper Sandler raised their price target on shares of AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. UBS Group raised their price target on shares of AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Weiss Ratings lowered shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Wall Street Zen downgraded shares of AppLovin from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, BTIG Research raised their price objective on shares of AppLovin from $664.00 to $693.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $606.39.

AppLovin Company 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.