Asset Management One Co. Ltd. Acquires 9,734 Shares of AppLovin Corporation $APP

Asset Management One Co. Ltd. raised its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 12.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,536 shares of the company’s stock after acquiring an additional 9,734 shares during the period. Asset Management One Co. Ltd.’s holdings in AppLovin were worth $31,345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock valued at $4,724,594,000 after acquiring an additional 1,213,536 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after purchasing an additional 1,769,400 shares during the period. Baillie Gifford & Co. boosted its stake in shares of AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after purchasing an additional 1,185,859 shares during the period. Invesco Ltd. boosted its stake in shares of AppLovin by 32.9% during the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock valued at $1,062,876,000 after purchasing an additional 992,316 shares during the period. Finally, Kensico Capital Management Corp boosted its stake in shares of AppLovin by 12.9% during the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock valued at $762,849,000 after purchasing an additional 328,000 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director owned 7,283,292 shares of the company’s stock, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 30,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of AppLovin stock opened at $620.00 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $209.72 billion, a P/E ratio of 88.07, a P/E/G ratio of 3.20 and a beta of 2.53. The business has a fifty day simple moving average of $569.09 and a two-hundred day simple moving average of $422.86. AppLovin Corporation has a 12 month low of $158.33 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. On average, equities analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on APP shares. Royal Bank Of Canada started coverage on AppLovin in a research note on Monday, October 13th. They set an “outperform” rating and a $700.00 price objective for the company. Oppenheimer set a $740.00 price objective on AppLovin in a research note on Tuesday, October 7th. The Goldman Sachs Group reissued a “neutral” rating and set a $630.00 price objective on shares of AppLovin in a research note on Tuesday, October 14th. Bank of America increased their price objective on AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, Jefferies Financial Group raised their price target on AppLovin from $560.00 to $615.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $605.13.

AppLovin 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.