Lbp Am Sa Has $24.32 Million Stock Position in AppLovin Corporation $APP

Lbp Am Sa raised its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 40.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,839 shares of the company’s stock after purchasing an additional 9,795 shares during the period. Lbp Am Sa’s holdings in AppLovin were worth $24,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of APP. Norges Bank bought a new stake in shares of AppLovin during the second quarter worth approximately $951,541,000. Rakuten Investment Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter valued at $1,456,108,000. Jennison Associates LLC raised its position in shares of AppLovin by 55.2% during the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after acquiring an additional 1,381,970 shares during the last quarter. National Pension Service lifted its stake in shares of AppLovin by 82.2% in the 2nd quarter. National Pension Service now owns 790,271 shares of the company’s stock valued at $276,658,000 after purchasing an additional 356,443 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of AppLovin by 235.5% in the 3rd quarter. Voya Investment Management LLC now owns 496,560 shares of the company’s stock worth $356,800,000 after purchasing an additional 348,548 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of several analyst reports. Oppenheimer set a $740.00 target price on AppLovin in a research note on Tuesday, October 7th. Needham & Company LLC raised AppLovin from a “hold” rating to a “buy” rating in a research note on Monday. Morgan Stanley increased their price target on shares of AppLovin from $750.00 to $800.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Evercore ISI began coverage on shares of AppLovin in a report on Wednesday, January 14th. They set an “outperform” rating and a $835.00 price objective for the company. Finally, Bank of America increased their target price on shares of AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $706.76.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 7,609 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the transaction, the insider directly owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. This represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 4,069 shares of AppLovin stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $497.50, for a total value of $2,024,327.50. Following the completion of the sale, the chief executive officer directly owned 2,998,948 shares in the company, valued at $1,491,976,630. This represents a 0.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 340,336 shares of company stock valued at $200,062,623. 13.66% of the stock is owned by insiders.

AppLovin Price Performance

NASDAQ APP opened at $524.41 on Monday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. The stock has a market cap of $177.22 billion, a price-to-earnings ratio of 63.64, a PEG ratio of 1.73 and a beta of 2.50. The business has a 50 day simple moving average of $634.79 and a 200 day simple moving average of $562.31. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The business’s revenue was up 68.2% on a year-over-year basis. Analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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.