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

Talon Private Wealth LLC acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,377 shares of the company’s stock, valued at approximately $548,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC purchased a new position in shares of AppLovin in the first quarter worth approximately $25,000. Washington Trust Advisors Inc. grew its position in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in AppLovin during the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC acquired a new stake in AppLovin during the 4th quarter valued at $32,000. Finally, First Pacific Financial acquired a new stake in shares of AppLovin in the first quarter worth $33,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research note on Thursday, May 28th. KeyCorp set a $775.00 price objective on shares of AppLovin in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 target price on shares of AppLovin in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $668.45.

AppLovin Stock Down 4.5%

AppLovin stock opened at $399.46 on Thursday. 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 Corporation has a fifty-two week low of $358.55 and a fifty-two week high of $745.61. The firm has a fifty day moving average price of $494.55 and a two-hundred day moving average price of $474.53. The firm has a market cap of $134.19 billion, a price-to-earnings ratio of 34.32, a P/E/G ratio of 0.68 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS 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 business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company posted $1.67 earnings per share. The firm’s revenue for the quarter was up 58.9% on a year-over-year basis. As a group, analysts forecast that AppLovin Corporation will post 15.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 22,544 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the transaction, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at approximately $1,152,157,026.32. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction 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 completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 in the last 90 days. 12.81% of the stock is currently owned by corporate insiders.

Key AppLovin News

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

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.