MGO One Seven LLC Grows Stock Holdings in AppLovin Corporation $APP

MGO One Seven LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 519.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,828 shares of the company’s stock after acquiring an additional 4,048 shares during the period. MGO One Seven LLC’s holdings in AppLovin were worth $3,469,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Hilltop National Bank purchased a new stake in AppLovin during the 2nd quarter worth about $26,000. LFA Lugano Financial Advisors SA purchased a new position in AppLovin during the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of AppLovin during the second quarter valued at about $33,000. Heartwood Wealth Advisors LLC bought a new stake in shares of AppLovin during the third quarter valued at about $33,000. Finally, Hoey Investments Inc. purchased a new stake in shares of AppLovin in the second quarter worth about $35,000. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $668.63 on Wednesday. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The company has a fifty day moving average of $640.73 and a 200-day moving average of $549.90. The company has a market capitalization of $225.96 billion, a P/E ratio of 81.14, a P/E/G ratio of 2.18 and a beta of 2.50. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was up 68.2% on a year-over-year basis. As a group, equities research analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 30,888 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the completion of the sale, the chief executive officer owned 2,553,161 shares of the company’s stock, valued at $1,328,384,136.69. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 150,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 340,336 shares of company stock valued at $200,062,623. Corporate insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APP. Citigroup reduced their price objective on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Zacks Research upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Wells Fargo & Company upped their price target on shares of AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. UBS Group set a $800.00 price objective on AppLovin in a research note on Tuesday. Finally, Piper Sandler boosted their target price on AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $700.35.

About AppLovin

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.