LGT Fund Management Co Ltd. Invests $210,000 in AppLovin Corporation $APP

LGT Fund Management Co Ltd. purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 600 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Dynasty Wealth Management LLC increased its stake in shares of AppLovin by 117,664.4% during the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock worth $716,133,000 after acquiring an additional 2,700,399 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after acquiring an additional 1,769,400 shares during the period. Vanguard Group Inc. increased its stake in shares of AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after acquiring an additional 1,213,536 shares during the period. Baillie Gifford & Co. increased its stake in shares of AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after acquiring an additional 1,185,859 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of AppLovin by 86.5% during the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company’s stock worth $632,478,000 after acquiring an additional 1,107,104 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Down 0.1%

Shares of NASDAQ APP opened at $682.76 on Friday. AppLovin Corporation has a 12-month low of $135.50 and a 12-month high of $745.61. The company has a market capitalization of $230.94 billion, a PE ratio of 96.98, a price-to-earnings-growth ratio of 3.74 and a beta of 2.53. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The firm’s 50-day moving average is $514.58 and its two-hundred day moving average is $391.46.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. Equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analyst Ratings Changes

APP has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Oppenheimer boosted their price objective on shares of AppLovin from $500.00 to $740.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. BTIG Research boosted their price objective on shares of AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Citigroup boosted their price objective on shares of AppLovin from $600.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group boosted their price objective on shares of AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $578.86.

Insider Buying and Selling at AppLovin

In related news, Director Eduardo Vivas sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company’s stock, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the transaction, the insider directly owned 269,955 shares in the company, valued at $135,579,499.65. The trade was a 11.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is owned by corporate insiders.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.