Mizuho Markets Americas LLC Sells 29,143 Shares of AppLovin Corporation $APP

Mizuho Markets Americas LLC cut its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 97.1% during the first quarter, Holdings Channel reports. The fund owned 857 shares of the company’s stock after selling 29,143 shares during the quarter. Mizuho Markets Americas LLC’s holdings in AppLovin were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Sei Investments Co. increased its holdings in shares of AppLovin by 16.2% in the first quarter. Sei Investments Co. now owns 471,774 shares of the company’s stock valued at $187,768,000 after purchasing an additional 65,890 shares during the last quarter. State of Wyoming acquired a new stake in shares of AppLovin during the 1st quarter worth about $59,000. Alpha Family Trust lifted its stake in shares of AppLovin by 38.9% during the 1st quarter. Alpha Family Trust now owns 1,875 shares of the company’s stock worth $746,000 after buying an additional 525 shares during the last quarter. Militia Capital Management LLC bought a new stake in shares of AppLovin during the 1st quarter worth about $2,277,000. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of AppLovin during the 1st quarter worth about $4,979,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APP. Wedbush reiterated an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of AppLovin in a research report on Thursday, May 28th. Benchmark restated a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Finally, Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $668.45.

AppLovin Trading Down 1.7%

APP stock opened at $391.98 on Friday. AppLovin Corporation has a 52 week low of $357.03 and a 52 week high of $745.61. The company has a market capitalization of $131.68 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 0.65 and a beta of 2.49. The company’s 50-day simple moving average is $498.97 and its 200 day simple moving average is $480.08. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current 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 for the quarter, topping the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue was up 58.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.67 EPS. As a group, sell-side analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current year.

Insider Activity at AppLovin

In other news, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is currently owned by company insiders.

AppLovin 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.