Trilogy Capital Inc. Buys 3,471 Shares of AppLovin Corporation $APP

Trilogy Capital Inc. grew its position in shares of AppLovin Corporation (NASDAQ:APP) by 48.5% during the second quarter, Holdings Channel.com reports. The fund owned 10,625 shares of the company’s stock after purchasing an additional 3,471 shares during the quarter. Trilogy Capital Inc.’s holdings in AppLovin were worth $5,474,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of AppLovin by 3,118.6% during the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock worth $2,826,049,000 after buying an additional 4,063,763 shares in the last quarter. Norges Bank bought a new position in shares of AppLovin during the 4th quarter worth approximately $2,040,321,000. Northern Trust Corp boosted its stake in shares of AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after buying an additional 756,660 shares during the last quarter. Finally, Amundi grew its holdings in shares of AppLovin by 81.3% in the fourth quarter. Amundi now owns 1,426,896 shares of the company’s stock valued at $961,471,000 after acquiring an additional 639,836 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on APP shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, May 28th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday, July 7th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $672.18.

Insider Activity

In related news, Director Eduardo Vivas sold 163,910 shares of the company’s 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 sale, the director directly owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the firm’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 transaction, the chief technology officer directly owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is currently owned by corporate insiders.

AppLovin Stock Up 2.6%

Shares of NASDAQ APP opened at $406.16 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market capitalization of $136.45 billion, a PE ratio of 34.89, a P/E/G ratio of 0.65 and a beta of 2.54. AppLovin Corporation has a one year low of $359.00 and a one year high of $745.61. The business’s fifty day moving average price is $489.68 and its 200-day moving average price is $469.11.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm posted $1.67 EPS. The firm’s revenue for the quarter was up 58.9% on a year-over-year basis. On average, equities research analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current year.

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.