Hsbc Holdings PLC Has $281.69 Million Position in AppLovin Corporation $APP

Hsbc Holdings PLC reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 416,887 shares of the company’s stock after selling 5,587 shares during the period. Hsbc Holdings PLC owned 0.12% of AppLovin worth $281,686,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of APP. Pure Financial Advisors LLC grew its stake in AppLovin by 12.0% in the fourth quarter. Pure Financial Advisors LLC now owns 337 shares of the company’s stock valued at $227,000 after purchasing an additional 36 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of AppLovin by 31.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,461 shares of the company’s stock worth $985,000 after purchasing an additional 346 shares in the last quarter. SHP Wealth Management purchased a new stake in shares of AppLovin during the 4th quarter worth about $52,000. Tulsa Wealth Advisors INC acquired a new stake in shares of AppLovin during the 4th quarter valued at about $264,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of AppLovin by 36,164.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,165 shares of the company’s stock valued at $4,154,000 after buying an additional 6,148 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. Arete Research set a $340.00 price objective on AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Wedbush restated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Benchmark restated a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

AppLovin Price Performance

APP opened at $469.71 on Friday. The firm has a market cap of $157.79 billion, a P/E ratio of 40.35, a price-to-earnings-growth ratio of 0.76 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The business has a 50 day moving average price of $492.23 and a 200 day moving average price of $517.80. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 earnings per share. Research analysts forecast that AppLovin Corporation will post 15.86 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the sale, the director owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 389,924 shares of company stock worth $195,693,875. Corporate insiders own 13.66% of the company’s stock.

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.