AppLovin Corporation $APP Shares Purchased by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in AppLovin Corporation by 7.1% in Q1, now owning 48,196 shares valued at approximately $12.79 million.
• Several institutional investors, including Vanguard Group and Invesco Ltd., significantly boosted their stakes in AppLovin during the first quarter, indicating strong interest in the company.
• AppLovin's stock has experienced substantial fluctuations, with a twelve-month low of $82.51 and a high of $525.15, and is currently trading at $412.60.

Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,196 shares of the company's stock after acquiring an additional 3,180 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in AppLovin were worth $12,789,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. lifted its stake in AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares in the last quarter. Invesco Ltd. boosted its holdings in AppLovin by 32.9% during the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock valued at $1,062,876,000 after acquiring an additional 992,316 shares during the period. Dynasty Wealth Management LLC grew its position in AppLovin by 117,664.4% in the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock valued at $716,133,000 after acquiring an additional 2,700,399 shares in the last quarter. Finally, Jennison Associates LLC grew its position 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. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Zacks Research raised AppLovin to a "strong-buy" rating in a research report on Friday, August 8th. Scotiabank lifted their target price on AppLovin from $430.00 to $450.00 and gave the company a "sector outperform" rating in a research report on Thursday, August 7th. HSBC set a $436.00 target price on AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Jefferies Financial Group upped their price objective on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $472.33.

AppLovin Stock Down 5.9%

AppLovin stock opened at $412.60 on Wednesday. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15. The stock's fifty day simple moving average is $372.50 and its 200-day simple moving average is $343.87. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $139.56 billion, a P/E ratio of 58.61, a P/E/G ratio of 2.45 and a beta of 2.43.

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 the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.AppLovin's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 earnings per share. As a group, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company's stock, valued at $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 34,766 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total value of $12,294,648.24. Following the completion of the transaction, the chief technology officer directly owned 70,889 shares in the company, valued at $25,069,185.96. This trade represents a 32.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,022,214 shares of company stock valued at $448,294,925 over the last quarter. 13.66% of the stock is owned by insiders.

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.

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