1,377 Shares in AppLovin Corporation $APP Bought by Talon Private Wealth LLC

Talon Private Wealth LLC acquired a new position in AppLovin Corporation (NASDAQ:APP) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,377 shares of the company’s stock, valued at approximately $548,000.

Several other institutional investors have also recently added to or reduced their stakes in APP. Calamos Advisors LLC increased its holdings in shares of AppLovin by 73.3% in the 4th quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock worth $32,840,000 after acquiring an additional 20,609 shares during the period. Capricorn Fund Managers Ltd acquired a new position in AppLovin during the 4th quarter valued at about $4,043,000. Dara Capital US Inc. bought a new position in AppLovin in the 4th quarter worth about $1,747,000. Mirae Asset Global Investments Co. Ltd. grew its position in AppLovin by 12.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,265 shares of the company’s stock worth $131,573,000 after purchasing an additional 21,427 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of AppLovin by 97.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 43,988 shares of the company’s stock valued at $29,640,000 after purchasing an additional 21,694 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of a number of recent analyst reports. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Wedbush reaffirmed an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Wells Fargo & Company increased their price target on AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, KeyCorp set a $775.00 price objective on shares of AppLovin in a research note on Wednesday, June 10th. Two research 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 stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $668.45.

AppLovin Price Performance

NASDAQ APP opened at $399.46 on Thursday. AppLovin Corporation has a 12 month low of $358.55 and a 12 month high of $745.61. The firm has a market capitalization of $134.19 billion, a PE ratio of 34.32, a P/E/G ratio of 0.68 and a beta of 2.49. The company’s 50 day simple moving average is $494.55 and its 200 day simple moving average is $474.53. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm posted $1.67 earnings per share. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, equities research analysts forecast that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

AppLovin News Roundup

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Wedbush expects AppLovin to report second-quarter results above its own guidance, supported by continued strength in the company’s core advertising business. The firm also expects consumer-growth initiatives to take longer to develop, but views the underlying business momentum favorably. AppLovin Q2 Results Poised to Top Guidance, Consumer Growth Expected to Take Time, Wedbush Says
• Positive Sentiment: A bullish analysis argues that the market may be underestimating AppLovin’s fundamental strength. Potential upside drivers include a longer-than-expected gaming growth runway, expansion into additional verticals, and longer-term opportunities such as video streaming. AppLovin: The Market Continues To Underestimate Fundamental Strength
• Neutral Sentiment: AppLovin is scheduled to report earnings next week, with Wall Street expecting year-over-year earnings growth. The preview provides a potential catalyst, but the available analysis says the company lacks the typical combination of factors that would support a likely earnings beat, leaving expectations and guidance especially important. AppLovin Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: The stock recently outperformed the broader market during one trading session, indicating intermittent buying interest, although that short-term strength has not reversed the broader period of weakness. AppLovin Outpaces Stock Market Gains: What You Should Know
• Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of AppLovin investors. Although the announcement does not establish wrongdoing, the legal inquiry adds headline, litigation and reputational risk to the stock. Investor Alert: Pomerantz Law Firm Investigates Claims on Behalf of Investors of AppLovin

Insider Activity

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the sale, the chief executive officer directly owned 2,369,351 shares in the company, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 393,000 shares of company stock valued at $197,297,363 over the last quarter. Insiders own 12.81% of the company’s stock.

AppLovin Company Profile

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.