AG2R LA Mondiale Gestion D Actifs Purchases 679 Shares of AppLovin Corporation $APP

Key Points

• AG2R LA Mondiale Gestion D Actifs increased its position in AppLovin Corporation by 8.4%, acquiring an additional 679 shares and bringing its total ownership to 8,731 shares valued at approximately $3,057,000.
• Multiple hedge funds have significantly increased their stakes in AppLovin, with Dynasty Wealth Management leading with a 117,664.4% increase, now holding shares worth $716,133,000.
• AppLovin's stock increased by 5.1%, and the company reported a strong quarterly performance with an EPS of $2.26, exceeding analysts' estimates.

AG2R LA Mondiale Gestion D Actifs grew its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 8.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,731 shares of the company's stock after buying an additional 679 shares during the period. AG2R LA Mondiale Gestion D Actifs' holdings in AppLovin were worth $3,057,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dynasty Wealth Management LLC increased its position in shares of AppLovin by 117,664.4% during the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after acquiring an additional 2,700,399 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock worth $1,745,752,000 after buying an additional 1,769,400 shares during the period. Vanguard Group Inc. grew its holdings in shares of AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after buying an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. raised its position in AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after buying an additional 1,185,859 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in AppLovin by 86.5% in the 1st quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock valued at $632,478,000 after acquiring an additional 1,107,104 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Up 5.1%

AppLovin stock opened at $620.00 on Friday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company's 50-day moving average is $569.09 and its 200-day moving average is $422.86. The firm has a market capitalization of $209.72 billion, a PE ratio of 88.07, a P/E/G ratio of 3.20 and a beta of 2.53. AppLovin Corporation has a fifty-two week low of $158.33 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.AppLovin's quarterly revenue was up 77.1% on a year-over-year basis. During the same quarter last year, the company posted $0.89 earnings per share. Sell-side analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Citigroup raised their target price on shares of AppLovin from $600.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Piper Sandler lifted their price target on shares of AppLovin from $500.00 to $740.00 and gave the company an "overweight" rating in a research note on Friday, September 26th. Wedbush boosted their price target on shares of AppLovin from $725.00 to $745.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. Finally, Scotiabank restated an "outperform" rating on shares of AppLovin in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $605.13.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the transaction, the chief technology officer directly owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the sale, the director owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock worth $514,863,333 in the last three months. 13.66% of the stock is owned by company insiders.

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.

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