Oak Thistle LLC Takes $284,000 Position in AppLovin Co. (NASDAQ:APP)

Oak Thistle LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the first quarter, according to its most recent filing with the SEC. The fund purchased 4,106 shares of the company’s stock, valued at approximately $284,000.

A number of other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors LLC acquired a new position in AppLovin during the 1st quarter worth $38,000. FinTrust Capital Advisors LLC acquired a new position in AppLovin during the 4th quarter worth $32,000. Quarry LP acquired a new position in AppLovin during the 4th quarter worth $44,000. GAMMA Investing LLC acquired a new position in AppLovin during the 4th quarter worth $47,000. Finally, Steph & Co. acquired a new position in AppLovin during the 1st quarter worth $92,000. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on APP shares. Oppenheimer reiterated an “outperform” rating and set a $97.00 price target on shares of AppLovin in a research report on Thursday, June 13th. BTIG Research upped their price objective on AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Wedbush upped their price objective on AppLovin from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. Finally, Jefferies Financial Group upped their price objective on AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $71.72.

AppLovin Stock Performance

AppLovin stock traded up $1.60 during trading hours on Monday, hitting $84.82. The stock had a trading volume of 3,347,115 shares, compared to its average volume of 4,313,470. The company has a 50-day moving average of $79.48 and a two-hundred day moving average of $63.60. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The company has a market cap of $27.91 billion, a PE ratio of 50.49, a price-to-earnings-growth ratio of 1.41 and a beta of 1.86. AppLovin Co. has a fifty-two week low of $25.24 and a fifty-two week high of $88.50.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. During the same period in the prior year, the firm posted ($0.01) EPS. AppLovin’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities research analysts anticipate that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the sale, the insider now directly owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the sale, the insider now directly owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the completion of the transaction, the insider now owns 366,567 shares in the company, valued at $30,557,025.12. The disclosure for this sale can be found here. Insiders sold 17,741,886 shares of company stock valued at $1,478,219,330 in the last three months. Corporate insiders own 14.69% of the company’s stock.

AppLovin Profile

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.