Mediolanum International Funds Ltd Has $18.88 Million Stock Position in AppLovin Corporation $APP

Mediolanum International Funds Ltd lowered its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 15.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 50,752 shares of the company’s stock after selling 9,224 shares during the period. Mediolanum International Funds Ltd’s holdings in AppLovin were worth $18,884,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of APP. Revolve Wealth Partners LLC bought a new position in AppLovin during the 4th quarter worth $294,000. Bison Wealth LLC acquired a new position in AppLovin during the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC grew its position in shares of 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 buying an additional 621 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of AppLovin by 5.7% in the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after buying an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after buying an additional 9,380 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. BTIG Research restated a “buy” rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Wells Fargo & Company upped their target price on AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $668.45.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 22,544 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the transaction, the chief executive officer directly owned 2,327,684 shares in the company, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 393,000 shares of company stock valued at $197,297,363 in the last 90 days. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

APP stock opened at $424.54 on Monday. The stock has a 50-day moving average price of $506.01 and a 200-day moving average price of $487.71. AppLovin Corporation has a 1-year low of $343.00 and a 1-year high of $745.61. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a market cap of $142.62 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49.

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

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.