Mizuho Markets Cayman LP Buys Shares of 6,477 AppLovin Corporation $APP

Mizuho Markets Cayman LP bought a new stake in AppLovin Corporation (NASDAQ:APP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,477 shares of the company’s stock, valued at approximately $4,364,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its holdings in 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 during the last quarter. Chilton Capital Management LLC purchased a new stake in shares of AppLovin in the 3rd quarter valued at approximately $29,000. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin in the 4th quarter valued at approximately $27,000. Activest Wealth Management raised 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 acquiring an additional 38 shares during the period. Finally, CBIZ Investment Advisory Services LLC raised its stake in shares of AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of APP opened at $481.68 on Friday. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The firm’s 50 day moving average price is $446.31 and its 200 day moving average price is $523.95. The company has a market cap of $161.82 billion, a P/E ratio of 41.38, a PEG ratio of 0.79 and a beta of 2.37. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last announced its earnings results 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. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 58.9% on a year-over-year basis. On average, research analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the business’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 $1,583,462,445.39. The trade was a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eduardo Vivas sold 163,910 shares of the business’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 $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 365,244 shares of company stock worth $169,584,607 in the last 90 days. Corporate insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on APP shares. Citigroup reduced their price target on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Oppenheimer reduced their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Argus started coverage on shares of AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target on the stock. Finally, Weiss Ratings downgraded shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.