AppLovin Corporation (NASDAQ:APP) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,802 shares of the company's stock after purchasing an additional 4,772 shares during the period. Asset Management One Co. Ltd.'s holdings in AppLovin were worth $21,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC increased its position in AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after purchasing an additional 31 shares during the period. Quadrant Capital Group LLC increased its position in AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after purchasing an additional 33 shares during the period. Forum Financial Management LP boosted its stake in shares of AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after acquiring an additional 33 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock worth $1,696,000 after acquiring an additional 38 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of AppLovin by 13.4% during the 1st quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $97,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Down 3.1%

Shares of AppLovin stock opened at $338.80 on Thursday. The business has a 50-day moving average of $339.45 and a 200-day moving average of $333.54. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market capitalization of $114.65 billion, a PE ratio of 61.16, a P/E/G ratio of 2.03 and a beta of 2.53. AppLovin Corporation has a 1-year low of $60.67 and a 1-year high of $525.15.

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

Insider Activity

In other news, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the transaction, the director now owns 3,451 shares of the company's stock, valued at approximately $1,450,455.30. This trade represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Craig Scott Billings sold 12,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $353.12, for a total transaction of $4,237,440.00. Following the transaction, the director now directly owns 2,987 shares in the company, valued at $1,054,769.44. The trade was a 80.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock worth $455,062,980 over the last ninety days. Corporate insiders own 13.66% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on APP shares. The Goldman Sachs Group boosted their price target on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Wells Fargo & Company boosted their price target on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. FBN Securities started coverage on AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 price target on the stock. Finally, HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $438.10.

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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