AppLovin Corporation $APP Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in AppLovin Corporation (NASDAQ:APP) by 82.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 173,838 shares of the company’s stock after purchasing an additional 78,746 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in AppLovin were worth $124,910,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Revolve Wealth Partners LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at approximately $294,000. Bison Wealth LLC acquired a new stake in AppLovin in the 4th quarter valued at $239,000. Integrated Wealth Concepts LLC grew its stake in AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after acquiring an additional 621 shares during the period. ORG Partners LLC increased its holdings in AppLovin by 146.5% in the 2nd quarter. ORG Partners LLC now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 63 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in AppLovin during the second quarter worth $70,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the transaction, the insider owned 277,110 shares in the company, valued at $182,097,294.30. The trade was a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the sale, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This represents a 0.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 340,336 shares of company stock valued at $200,062,623 over the last 90 days. Insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on APP shares. Oppenheimer set a $740.00 target price on shares of AppLovin in a research report on Tuesday, October 7th. Jefferies Financial Group raised their price target on shares of AppLovin from $800.00 to $860.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. The Goldman Sachs Group boosted their price objective on AppLovin from $630.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Bank of America raised their target price on AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $706.45.

AppLovin Trading Up 0.9%

APP opened at $548.58 on Wednesday. The firm has a market capitalization of $185.39 billion, a price-to-earnings ratio of 66.57, a price-to-earnings-growth ratio of 1.77 and a beta of 2.50. The company’s 50 day simple moving average is $635.07 and its two-hundred day simple moving average is $565.11. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25.

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