Groupama Asset Managment Makes New $572,000 Investment in AppLovin Corporation $APP

Groupama Asset Managment purchased a new stake in shares of AppLovin Corporation (NASDAQ:APP) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,438 shares of the company’s stock, valued at approximately $572,000.

A number of other hedge funds have also modified their holdings of APP. Calamos Advisors LLC lifted its stake in AppLovin by 73.3% in the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock valued at $32,840,000 after acquiring an additional 20,609 shares during the last quarter. Capricorn Fund Managers Ltd bought a new stake in AppLovin in the fourth quarter worth approximately $4,043,000. Dara Capital US Inc. bought a new position in shares of AppLovin during the 4th quarter valued at $1,747,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of AppLovin by 12.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,265 shares of the company’s stock valued at $131,573,000 after purchasing an additional 21,427 shares during the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of AppLovin by 8.1% in the 4th quarter. Aberdeen Group plc now owns 67,187 shares of the company’s stock valued at $45,272,000 after purchasing an additional 5,058 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on APP shares. Raymond James Financial began coverage on shares of AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 target price on the stock. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Argus started coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective on the stock. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $668.45.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 177,450 shares in the company, valued at $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 is available at this link. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the sale, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 393,000 shares of company stock valued at $197,297,363. Corporate insiders own 12.81% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $395.90 on Monday. AppLovin Corporation has a 52 week low of $359.00 and a 52 week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market capitalization of $133.00 billion, a PE ratio of 34.01, a PEG ratio of 0.65 and a beta of 2.54. The business’s 50-day simple moving average is $491.19 and its 200-day simple moving average is $470.96.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 EPS. Equities research analysts forecast that AppLovin Corporation will post 15.93 earnings per share for the current year.

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.