Simplify Asset Management Inc. Purchases Shares of 1,169 AppLovin Corporation $APP

Simplify Asset Management Inc. acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,169 shares of the company’s stock, valued at approximately $840,000.

Several other institutional investors and hedge funds have also modified their holdings of APP. Norges Bank bought a new position in AppLovin in the 2nd quarter valued at $951,541,000. Royal Bank of Canada increased its stake in shares of AppLovin by 61.1% in the first quarter. Royal Bank of Canada now owns 1,434,503 shares of the company’s stock valued at $380,102,000 after buying an additional 544,107 shares in the last quarter. Amundi raised its holdings in shares of AppLovin by 82.8% in the first quarter. Amundi now owns 1,103,586 shares of the company’s stock valued at $289,117,000 after buying an additional 499,820 shares during the last quarter. National Pension Service lifted its position in AppLovin by 82.2% during the 2nd quarter. National Pension Service now owns 790,271 shares of the company’s stock worth $276,658,000 after buying an additional 356,443 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in AppLovin by 235.5% during the 3rd quarter. Voya Investment Management LLC now owns 496,560 shares of the company’s stock worth $356,800,000 after acquiring an additional 348,548 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Jefferies Financial Group boosted their target price on shares of AppLovin from $800.00 to $860.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Royal Bank Of Canada boosted their price objective on shares of AppLovin from $700.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Morgan Stanley increased their price objective on AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Weiss Ratings restated a “buy (b-)” rating on shares of AppLovin in a research report on Monday, December 22nd. Finally, Oppenheimer set a $740.00 price target on AppLovin in a report on Tuesday, October 7th. Nineteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $695.90.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $520.29, for a total value of $16,070,717.52. Following the transaction, the chief executive officer owned 2,553,161 shares in the company, valued at $1,328,384,136.69. This trade represents a 1.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 340,336 shares of company stock worth $200,062,623. Corporate insiders own 13.66% of the company’s stock.

AppLovin Price Performance

AppLovin stock opened at $698.82 on Tuesday. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $236.17 billion, a P/E ratio of 84.81, a PEG ratio of 3.83 and a beta of 2.51. The business has a 50-day moving average of $632.59 and a 200-day moving average of $526.52. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $1.29 EPS. AppLovin’s quarterly revenue was up 68.2% compared to the same quarter last year. On average, equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

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.