Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in AppLovin Corporation $APP

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of AppLovin Corporation (NASDAQ:APP) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,608 shares of the company’s stock after selling 17,996 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in AppLovin were worth $197,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of APP. Revolve Wealth Partners LLC purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $294,000. Bison Wealth LLC purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $239,000. Integrated Wealth Concepts LLC raised its holdings in shares of AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after acquiring an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after acquiring an additional 9,380 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Up 2.7%

Shares of APP opened at $460.29 on Tuesday. The company has a market cap of $155.25 billion, a PE ratio of 47.21, a P/E/G ratio of 0.78 and a beta of 2.50. The business has a fifty day moving average of $434.85 and a 200 day moving average of $538.41. AppLovin Corporation has a 52-week low of $246.00 and a 52-week high of $745.61. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.AppLovin’s revenue was up 66.0% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. On average, sell-side analysts expect that AppLovin Corporation will post 15.72 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the sale, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 5,231 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total value of $2,497,645.57. Following the completion of the sale, the chief technology officer owned 30,658 shares in the company, valued at approximately $14,638,275.26. The trade was a 14.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 over the last three months. 13.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of several recent research reports. Citigroup decreased their price objective on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Arete Research set a $340.00 price objective on AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Jefferies Financial Group decreased their price objective on AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $673.25.

About AppLovin

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.