Verde Servicos Internacionais S.A. Purchases Shares of 6,700 AppLovin Corporation $APP

Verde Servicos Internacionais S.A. acquired a new position in AppLovin Corporation (NASDAQ:APP) in the 1st quarter, HoldingsChannel reports. The firm acquired 6,700 shares of the company’s stock, valued at approximately $2,667,000. AppLovin makes up 0.8% of Verde Servicos Internacionais S.A.’s portfolio, making the stock its 25th largest position.

A number of other large investors have also recently made changes to their positions in APP. Washington Trust Advisors Inc. raised its holdings in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in AppLovin in the fourth quarter worth $27,000. Mcguire Capital Advisors Inc. bought a new stake in AppLovin in the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC bought a new stake in AppLovin in the fourth quarter valued at $32,000. Finally, Graney & King LLC purchased a new position in AppLovin during the 3rd quarter valued at $36,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Performance

AppLovin stock opened at $467.02 on Wednesday. AppLovin Corporation has a twelve month low of $325.58 and a twelve month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $156.89 billion, a P/E ratio of 40.12, a PEG ratio of 0.76 and a beta of 2.45. The stock’s 50 day moving average is $495.55 and its 200 day moving average is $514.39.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the business earned $1.67 earnings per share. The firm’s quarterly revenue was up 58.9% compared to the same quarter last year. On average, equities research analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on APP shares. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, May 28th. KeyCorp set a $775.00 target price on shares of AppLovin in a research note on Wednesday, June 10th. Wedbush reiterated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. BTIG Research reissued a “buy” rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Finally, Wells Fargo & Company raised their price objective on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $669.62.

Insider Activity

In related news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction dated 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 in the company, valued at $106,470,000. This trade represents a 4.85% 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 insiders.

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.