MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $59.49 Million Position in AppLovin Co. (NASDAQ:APP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 6,883.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 183,670 shares of the company’s stock after buying an additional 181,040 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in AppLovin were worth $59,488,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Barclays PLC boosted its position in shares of AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock valued at $41,643,000 after buying an additional 153,248 shares during the last quarter. Chicago Capital LLC bought a new position in AppLovin during the 4th quarter valued at $323,000. Brookstone Capital Management purchased a new position in AppLovin during the 4th quarter worth $290,000. Wedmont Private Capital boosted its holdings in AppLovin by 4.6% during the 4th quarter. Wedmont Private Capital now owns 6,322 shares of the company’s stock worth $2,013,000 after acquiring an additional 277 shares during the last quarter. Finally, Claro Advisors LLC bought a new stake in shares of AppLovin in the 4th quarter worth $415,000. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by company insiders.

AppLovin Price Performance

APP stock opened at $347.90 on Tuesday. The firm has a 50 day moving average of $276.15 and a 200-day moving average of $313.96. The firm has a market capitalization of $118.27 billion, a P/E ratio of 76.63, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted $0.67 EPS. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on APP shares. Morgan Stanley boosted their price target on shares of AppLovin from $350.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Wells Fargo & Company lifted their price target on AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on AppLovin from $270.00 to $355.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Citigroup raised their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $433.85.

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.