AppLovin Corporation (NASDAQ:APP) Shares Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. raised its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 24.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,191 shares of the company's stock after acquiring an additional 2,368 shares during the period. AppLovin makes up 1.6% of Rakuten Securities Inc.'s portfolio, making the stock its 12th largest holding. Rakuten Securities Inc.'s holdings in AppLovin were worth $3,230,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Advisory Group Advisory Services LLC bought a new stake in AppLovin in the 4th quarter valued at $213,000. Peak Retirement Planning Inc. bought a new stake in shares of AppLovin in the 4th quarter worth about $969,000. Parcion Private Wealth LLC bought a new stake in shares of AppLovin in the 4th quarter worth about $366,000. Handelsbanken Fonder AB increased its holdings in shares of AppLovin by 162.0% in the 4th quarter. Handelsbanken Fonder AB now owns 110,022 shares of the company's stock worth $35,628,000 after buying an additional 68,022 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of AppLovin by 2.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 76,751 shares of the company's stock worth $24,854,000 after buying an additional 1,557 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APP. Wells Fargo & Company boosted their target price on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Oppenheimer restated an "outperform" rating and issued a $500.00 target price (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Piper Sandler boosted their target price on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Benchmark restated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. Finally, Loop Capital reiterated a "buy" rating and set a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $438.10.

AppLovin Trading Down 4.5%

AppLovin stock traded down $16.08 during trading hours on Thursday, hitting $344.37. The company had a trading volume of 5,806,553 shares, compared to its average volume of 6,117,065. The firm has a market cap of $116.53 billion, a P/E ratio of 62.16, a P/E/G ratio of 2.00 and a beta of 2.53. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a 50-day moving average price of $331.71 and a two-hundred day moving average price of $334.73.

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

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 513 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the sale, the director now owns 3,451 shares of the company's stock, valued at approximately $1,450,455.30. This represents a 12.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 33,700 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total transaction of $12,318,698.00. Following the completion of the sale, the chief executive officer now owns 2,760,363 shares of the company's stock, valued at approximately $1,009,023,091.02. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Company insiders own 13.66% of the company's stock.

About AppLovin

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.