Krane Funds Advisors LLC Has $2.60 Million Stock Position in AppLovin Corporation $APP

Krane Funds Advisors LLC lifted its stake in AppLovin Corporation (NASDAQ:APP) by 208.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,616 shares of the company’s stock after buying an additional 2,445 shares during the period. AppLovin comprises approximately 0.1% of Krane Funds Advisors LLC’s holdings, making the stock its 24th largest holding. Krane Funds Advisors LLC’s holdings in AppLovin were worth $2,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in AppLovin by 39.4% during the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after acquiring an additional 7,051,663 shares in the last quarter. Norges Bank bought a new stake in shares of AppLovin in the 2nd quarter worth about $951,541,000. Rakuten Investment Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth about $1,456,108,000. Jennison Associates LLC increased 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 worth $2,792,355,000 after purchasing an additional 1,381,970 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in AppLovin by 51.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,493,494 shares of the company’s stock valued at $1,073,135,000 after purchasing an additional 504,341 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $700.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Jefferies Financial Group dropped their price target on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Evercore reiterated a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Finally, UBS Group set a $740.00 target price on AppLovin in a report on Thursday, February 12th. Twenty-one investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $651.77.

AppLovin Price Performance

Shares of APP stock opened at $380.62 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61. The firm has a market cap of $128.63 billion, a P/E ratio of 39.04, a P/E/G ratio of 0.86 and a beta of 2.49. The business’s 50 day moving average price is $560.57 and its 200-day moving average price is $573.34.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm’s revenue was up 66.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share. On average, equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Activity

In other news, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the sale, the insider owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the transaction, the director owned 2,829 shares in the company, valued at $1,961,402.28. This represents a 5.04% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 13.66% of the company’s stock.

About AppLovin

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.