Inspire Investing LLC Purchases 2,173 Shares of AppLovin Corporation $APP

Inspire Investing LLC grew its position in shares of AppLovin Corporation (NASDAQ:APP) by 20.3% in the first quarter, Holdings Channel reports. The firm owned 12,893 shares of the company’s stock after purchasing an additional 2,173 shares during the period. Inspire Investing LLC’s holdings in AppLovin were worth $5,131,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new position in AppLovin during the fourth quarter worth about $294,000. Bison Wealth LLC bought a new position in AppLovin in the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC increased its stake in AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of AppLovin by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after acquiring an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of AppLovin by 7.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after acquiring an additional 9,380 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $498.76 on Tuesday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $167.55 billion, a PE ratio of 42.85, a price-to-earnings-growth ratio of 0.77 and a beta of 2.45. The business’s 50-day moving average price is $497.65 and its 200-day moving average price is $508.03. AppLovin Corporation has a 12 month low of $325.58 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period last year, the firm posted $1.67 EPS. Sell-side analysts forecast that AppLovin Corporation will post 15.97 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the transaction, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the completion of the sale, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. The trade was a 1.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 389,924 shares of company stock valued at $195,693,875. 13.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

APP has been the subject of several recent analyst reports. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. BTIG Research reiterated a “buy” rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Raymond James Financial began coverage on shares of AppLovin in a research note on Monday. They issued a “strong-buy” rating and a $640.00 price target for the company. Finally, Oppenheimer decreased their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $668.27.

AppLovin 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.