6,477 Shares in AppLovin Corporation $APP Bought by Mizuho Markets Cayman LP

Key Points

• Mizuho Markets Cayman LP bought a new stake in AppLovin during the fourth quarter, purchasing 6,477 shares valued at about $4.36 million.
• AppLovin reported strong first-quarter results, with EPS of $3.56 and revenue of $1.84 billion, both ahead of analyst estimates. Revenue also jumped 58.9% year over year.
• Analysts remain upbeat on the stock, with multiple firms reiterating buy ratings and an average price target of $664.35, while insiders have recently sold shares, including the CTO and CEO.

Mizuho Markets Cayman LP bought a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,477 shares of the company's stock, valued at approximately $4,364,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its holdings in AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock valued at $33,000 after buying an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company's stock valued at $431,000 after buying an additional 18 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company's stock valued at $224,000 after buying an additional 18 shares in the last quarter. Claro Advisors LLC increased its holdings in AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company's stock valued at $465,000 after buying an additional 20 shares in the last quarter. Finally, Strategic Advocates LLC increased its holdings in AppLovin by 0.8% in the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company's stock valued at $1,851,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

APP opened at $481.68 on Friday. The firm has a market capitalization of $161.82 billion, a PE ratio of 41.38, a PEG ratio of 0.79 and a beta of 2.37. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The firm's 50-day moving average price is $446.31 and its 200 day moving average price is $523.95. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. The firm 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%. AppLovin's quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 earnings per share. As a group, sell-side analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on APP shares. BTIG Research reaffirmed a "buy" rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, February 12th. Evercore reaffirmed a "buy" rating on shares of AppLovin in a report on Friday, January 30th. Finally, Benchmark reaffirmed a "buy" rating on shares of AppLovin in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $664.35.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. The trade was a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock worth $169,584,607 in the last ninety days. 13.66% of the stock is owned by insiders.

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.

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