AppLovin Corporation $APP Shares Bought by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 142.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,840 shares of the company’s stock after buying an additional 1,671 shares during the quarter. Parkside Financial Bank & Trust’s holdings in AppLovin were worth $1,463,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Second Line Capital LLC boosted its holdings in shares of AppLovin by 0.8% in the 2nd quarter. Second Line Capital LLC now owns 21,752 shares of the company’s stock valued at $11,207,000 after acquiring an additional 167 shares during the last quarter. Range Advisory LLC acquired a new stake in shares of AppLovin in the second quarter worth $435,000. Formuepleje A S purchased a new position in shares of AppLovin during the second quarter worth $725,000. Tucker Asset Management LLC purchased a new position in shares of AppLovin during the second quarter worth $449,000. Finally, Amundi raised its holdings in shares of AppLovin by 19.5% during the second quarter. Amundi now owns 1,332,633 shares of the company’s stock worth $686,612,000 after purchasing an additional 217,214 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on APP. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday, June 10th. Raymond James Financial initiated coverage on AppLovin in a research note on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price objective for the company. Wedbush decreased their price objective on AppLovin from $640.00 to $610.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Scotiabank reissued a “sector outperform” rating and issued a $515.00 price objective on shares of AppLovin in a report on Thursday, August 6th. Finally, Needham & Company LLC lowered their target price on AppLovin from $500.00 to $475.00 and set a “buy” rating on the stock in a research note on Wednesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $538.09.

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 stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the transaction, the director owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $521.29, for a total value of $1,603,488.04. Following the transaction, the director owned 120,444 shares in the company, valued at $62,786,252.76. This represents a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 250,319 shares of company stock worth $124,797,873 in the last ninety days. Company insiders own 12.81% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $312.01 on Wednesday. The company’s fifty day moving average price is $386.96 and its 200 day moving average price is $439.58. AppLovin Corporation has a 1 year low of $297.50 and a 1 year high of $745.61. The company has a market capitalization of $104.41 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 0.68 and a beta of 2.49. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.76. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The firm’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.39 earnings per share. On average, research analysts predict that AppLovin Corporation will post 15.53 earnings per share for the current year.

AppLovin Profile

AppLovin Corporation (NASDAQ: APP) is a technology company that provides software and services designed to help mobile application developers grow their businesses. Its platform supports user acquisition, advertising, monetization, measurement and other functions that enable developers to attract users and generate revenue from their applications.

AppLovin’s offerings include AXON, an artificial-intelligence-powered software engine used to optimize advertising and user-acquisition campaigns; MAX, a platform for managing in-app advertising and mediation; and AppDiscovery, which helps developers promote their applications.