Vanguard Personalized Indexing Management LLC Increases Stock Position in AppLovin Corporation $APP

Vanguard Personalized Indexing Management LLC increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,321 shares of the company’s stock after purchasing an additional 1,138 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in AppLovin were worth $24,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Hilltop National Bank purchased a new stake in AppLovin during the second quarter valued at $26,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of AppLovin during the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of AppLovin during the 2nd quarter valued at about $33,000. Heartwood Wealth Advisors LLC bought a new position in shares of AppLovin in the 3rd quarter worth approximately $33,000. Finally, Bogart Wealth LLC grew its position in AppLovin by 100.0% during the third quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock valued at $34,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $524.41 on Monday. The company has a market capitalization of $177.22 billion, a price-to-earnings ratio of 63.64, a PEG ratio of 1.73 and a beta of 2.50. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock’s 50-day simple moving average is $634.79 and its 200-day simple moving average is $562.31. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The company 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 company earned $1.29 EPS. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. As a group, analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Eduardo Vivas sold 150,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 7,133,292 shares of the company’s stock, valued at approximately $4,643,131,095.72. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction on Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the sale, the chief technology officer owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 340,336 shares of company stock valued at $200,062,623. 13.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APP. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Scotiabank raised their target price on AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Wells Fargo & Company boosted their price target on AppLovin from $721.00 to $735.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Evercore ISI began coverage on AppLovin in a research report on Wednesday, January 14th. They set an “outperform” rating and a $835.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $706.45.

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.