Mufg Securities Americas Inc. Buys Shares of 7,300 AppLovin Corporation $APP

Mufg Securities Americas Inc. purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,300 shares of the company’s stock, valued at approximately $5,245,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. LFA Lugano Financial Advisors SA acquired a new position in AppLovin during the second quarter worth about $26,000. Chilton Capital Management LLC acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $29,000. Activest Wealth Management grew its holdings in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in AppLovin during the 2nd quarter worth approximately $33,000. Finally, Heartwood Wealth Advisors LLC bought a new position in AppLovin in the 3rd quarter valued at approximately $33,000. 41.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Dawson Alyssa Harvey sold 150 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the completion of the sale, the director directly owned 2,829 shares in the company, valued at $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 directly owned 277,110 shares of the company’s stock, valued at $182,097,294.30. This represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $380.62 on Tuesday. The business has a 50-day moving average of $560.57 and a 200-day moving average of $573.34. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The company has a market capitalization of $128.63 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 0.86 and a beta of 2.49. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $2.89 by $0.35. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $1.73 earnings per share. As a group, equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on APP shares. Wells Fargo & Company lowered their price target on shares of AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a report on Monday, February 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $700.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Piper Sandler restated an “overweight” rating and set a $650.00 price target (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Finally, Evercore reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. Twenty-one investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given 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 price target of $651.77.

AppLovin Company 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.