AG2R LA Mondiale Gestion D Actifs Takes Position in AppLovin Corporation $APP

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new stake in AppLovin Corporation, purchasing 8,052 shares valued at approximately $2.13 million during the first quarter.
• Multiple hedge funds made significant increases to their holdings in AppLovin, with Dynasty Wealth Management boosting its position by 117,664.4%, now owning shares worth over $716 million.
• AppLovin's stock reached a market capitalization of $196.86 billion, showing strong performance with a revenue increase of 77.1% year-over-year, despite missing revenue estimates in a recent earnings report.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,052 shares of the company's stock, valued at approximately $2,134,000.

Other hedge funds also recently made changes to their positions in the company. Dynasty Wealth Management LLC boosted its position in AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock worth $716,133,000 after buying an additional 2,700,399 shares during the period. Price T Rowe Associates Inc. MD boosted its position in AppLovin by 36.7% during the 1st 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. boosted its position in AppLovin by 7.3% during the 1st 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 during the period. Baillie Gifford & Co. boosted its position in AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after buying an additional 1,185,859 shares during the period. Finally, Jennison Associates LLC boosted its position in AppLovin by 86.5% during the 1st quarter. Jennison Associates LLC now owns 2,386,980 shares of the company's stock worth $632,478,000 after buying an additional 1,107,104 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the sale, the insider owned 269,955 shares in the company, valued at $135,579,499.65. The trade was a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 26,200 shares of AppLovin stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the sale, the chief executive officer owned 2,590,054 shares of the company's stock, valued at $1,140,219,472.42. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is owned by insiders.

AppLovin Stock Performance

NASDAQ:APP opened at $582.00 on Friday. The company has a fifty day moving average of $424.50 and a 200-day moving average of $353.48. The firm has a market capitalization of $196.86 billion, a P/E ratio of 82.67, a P/E/G ratio of 3.19 and a beta of 2.44. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a twelve month low of $105.94 and a twelve month high of $587.88.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wells Fargo & Company lifted their target price on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Piper Sandler raised their price target on shares of AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Citigroup restated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $487.86.

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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