Mizuho Markets Americas LLC Takes $20.22 Million Position in AppLovin Corporation $APP

Mizuho Markets Americas LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $20,215,000.

Other hedge funds also recently made changes to their positions in the company. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the 4th quarter valued at approximately $27,000. Washington Trust Advisors Inc. boosted its stake in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $29,000. Activest Wealth Management boosted its stake in shares of AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at approximately $32,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Down 0.9%

Shares of NASDAQ APP opened at $481.68 on Friday. The company has a 50 day simple moving average of $446.31 and a 200 day simple moving average of $523.95. The firm has a market cap of $161.82 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 0.79 and a beta of 2.37. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm’s quarterly revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the business earned $1.67 EPS. On average, research analysts forecast that AppLovin Corporation will post 15.86 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

APP has been the topic of a number of research analyst reports. BTIG Research restated a “buy” rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Jefferies Financial Group dropped their price objective on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. UBS Group dropped their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Morgan Stanley set a $720.00 price objective on shares of AppLovin in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Company Profile

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.