AG2R LA Mondiale Gestion D Actifs Purchases New Stake in AppLovin Corporation $APP

AG2R LA Mondiale Gestion D Actifs purchased a new stake in AppLovin Corporation (NASDAQ:APP) in the 1st quarter, HoldingsChannel reports. The fund purchased 8,052 shares of the company’s stock, valued at approximately $2,134,000.

Several other hedge funds have also bought and sold shares of the business. Forum Financial Management LP grew its position in AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock valued at $1,223,000 after purchasing an additional 33 shares during the period. Vestcor Inc grew its position in AppLovin by 0.8% in the 1st quarter. Vestcor Inc now owns 4,108 shares of the company’s stock valued at $1,088,000 after purchasing an additional 33 shares during the period. GSG Advisors LLC grew its position in AppLovin by 0.3% in the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock valued at $2,820,000 after purchasing an additional 35 shares during the period. Argentarii LLC grew its position in AppLovin by 1.5% in the 1st quarter. Argentarii LLC now owns 2,638 shares of the company’s stock valued at $699,000 after purchasing an additional 40 shares during the period. Finally, Atlas Capital Advisors Inc. boosted its holdings in AppLovin by 11.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company’s stock worth $104,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 26,200 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the sale, the chief executive officer directly owned 2,590,054 shares in the company, valued at $1,140,219,472.42. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 350 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $487.97, for a total value of $170,789.50. Following the sale, the director owned 3,150 shares in the company, valued at approximately $1,537,105.50. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Morgan Stanley lifted their price objective on shares of AppLovin from $460.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Zacks Research raised shares of AppLovin to a “strong-buy” rating in a report on Friday, August 8th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $487.86.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $582.00 on Friday. The company’s 50-day moving average is $424.50 and its 200 day moving average is $353.48. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market capitalization of $196.86 billion, a P/E ratio of 82.67, a price-to-earnings-growth ratio of 3.19 and a beta of 2.44. AppLovin Corporation has a fifty-two week low of $105.94 and a fifty-two week high of $587.88.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $0.89 EPS. The firm’s quarterly revenue was up 77.1% on a year-over-year basis. On average, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

AppLovin Company 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.