FUKOKU MUTUAL LIFE INSURANCE Co Makes New $213,000 Investment in AppLovin Corporation (NASDAQ:APP)

FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in AppLovin Corporation (NASDAQ:APP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 804 shares of the company's stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ballentine Partners LLC raised its holdings in AppLovin by 3.3% in the 1st quarter. Ballentine Partners LLC now owns 8,686 shares of the company's stock worth $2,302,000 after acquiring an additional 277 shares during the last quarter. Berbice Capital Management LLC grew its position in shares of AppLovin by 39.7% during the 1st quarter. Berbice Capital Management LLC now owns 2,725 shares of the company's stock valued at $722,000 after acquiring an additional 775 shares during the period. Park Square Financial Group LLC grew its position in shares of AppLovin by 38.6% during the 1st quarter. Park Square Financial Group LLC now owns 478 shares of the company's stock valued at $127,000 after acquiring an additional 133 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of AppLovin during the 1st quarter valued at $2,603,000. Finally, Xponance Inc. lifted its stake in shares of AppLovin by 1.3% during the 1st quarter. Xponance Inc. now owns 47,817 shares of the company's stock valued at $12,670,000 after buying an additional 593 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on APP shares. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. The Goldman Sachs Group increased their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Jefferies Financial Group increased their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Loop Capital reissued a "buy" rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. Finally, Citigroup reissued a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $438.43.

AppLovin Price Performance

Shares of NASDAQ:APP traded down $2.94 during midday trading on Tuesday, hitting $352.96. The company's stock had a trading volume of 3,384,304 shares, compared to its average volume of 6,243,491. The business's 50 day simple moving average is $359.31 and its 200 day simple moving average is $334.34. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $119.44 billion, a P/E ratio of 63.71, a price-to-earnings-growth ratio of 2.00 and a beta of 2.42. AppLovin Corporation has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The business's revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. On average, analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Activity

In other news, Director Herald Y. Chen sold 171,420 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $373.77, for a total transaction of $64,071,653.40. Following the completion of the sale, the director owned 221,209 shares in the company, valued at approximately $82,681,287.93. The trade was a 43.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 34,766 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the completion of the sale, the chief technology officer owned 70,889 shares of the company's stock, valued at approximately $25,069,185.96. This trade represents a 32.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Insiders own 13.66% of the company's stock.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.