AppLovin Corporation $APP Shares Acquired by Amundi

Key Points

• Amundi increased its stake in AppLovin Corporation by 82.8% during the first quarter, owning over 1 million shares worth approximately $289 million after acquiring nearly 500,000 additional shares.
• Insider selling was noted with CTO Vasily Shikin selling 17,564 shares at around $437.48 per share, resulting in a significant decrease of 24.75% in his position.
• Analysts maintain a largely positive outlook for AppLovin, with companies like Zacks Research upgrading the stock to a "strong-buy" rating and Wells Fargo increasing their price target from $480 to $491.

Amundi lifted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 82.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,103,586 shares of the company's stock after purchasing an additional 499,820 shares during the quarter. Amundi owned about 0.32% of AppLovin worth $289,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC raised its stake in AppLovin by 5.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after acquiring an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after acquiring an additional 66,453 shares during the last quarter. Yousif Capital Management LLC raised its stake in AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after acquiring an additional 119 shares during the last quarter. Peak Retirement Planning Inc. purchased a new position in AppLovin in the 4th quarter worth $969,000. Finally, Assenagon Asset Management S.A. raised its stake in AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after acquiring an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ:APP traded down $9.73 during trading on Friday, reaching $490.24. 8,102,116 shares of the company's stock traded hands, compared to its average volume of 5,036,863. AppLovin Corporation has a fifty-two week low of $82.51 and a fifty-two week high of $525.15. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market cap of $165.82 billion, a PE ratio of 69.64, a P/E/G ratio of 2.79 and a beta of 2.44. The company has a 50-day simple moving average of $402.06 and a 200-day simple moving average of $348.80.

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

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 350 shares of AppLovin stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $487.97, for a total value of $170,789.50. Following the sale, the director directly owned 3,150 shares in the company, valued at approximately $1,537,105.50. The trade was a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction dated Thursday, September 4th. The stock was 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 approximately $135,579,499.65. The trade was a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,158,288 shares of company stock valued at $515,437,023 over the last quarter. Insiders own 13.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on APP shares. Wells Fargo & Company raised their target price on AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Zacks Research upgraded AppLovin to a "strong-buy" rating in a research note on Friday, August 8th. Scotiabank reiterated an "outperform" rating on shares of AppLovin in a research note on Thursday, August 28th. Jefferies Financial Group lifted their price objective on AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research note on Friday. Finally, The Goldman Sachs Group lifted their price objective on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $482.86.

AppLovin 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.