BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $3.15 Million Stock Holdings in AppLovin Corporation $APP

Key Points

• BNP PARIBAS ASSET MANAGEMENT increased its stake in AppLovin Corporation by 51.5%, owning 11,899 shares valued at approximately $3.15 million as of the latest SEC filing.
• Insider selling was notable, with Director Herald Y. Chen selling 200,000 shares for approximately $92.94 million, resulting in a significant decrease in their ownership.
• AppLovin's stock opened at $438.54, having reported a 77.1% year-over-year increase in revenue, despite missing quarterly revenue expectations.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 51.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,899 shares of the company's stock after acquiring an additional 4,043 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in AppLovin were worth $3,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin in the fourth quarter valued at $25,000. Atala Financial Inc purchased a new position in shares of AppLovin in the first quarter valued at $26,000. Alpine Bank Wealth Management purchased a new position in shares of AppLovin in the first quarter valued at $27,000. ORG Wealth Partners LLC purchased a new position in shares of AppLovin in the first quarter valued at $29,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of AppLovin in the first quarter valued at $29,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of APP stock traded up $23.0390 during trading hours on Friday, reaching $441.7990. The stock had a trading volume of 5,496,130 shares, compared to its average volume of 7,093,247. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15. The firm has a 50-day simple moving average of $373.84 and a 200-day simple moving average of $344.71. The firm has a market capitalization of $149.44 billion, a PE ratio of 62.76, a price-to-earnings-growth ratio of 2.31 and a beta of 2.43.

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, topping analysts' consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the company earned $0.89 EPS. The company's revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, equities analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APP. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Wall Street Zen cut shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Piper Sandler upped their price target on shares of AppLovin from $470.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. Finally, Jefferies Financial Group upped their price target on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Two investment 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 assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $472.86.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 50,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $436.61, for a total value of $21,830,500.00. Following the completion of the transaction, the director owned 181,929 shares in the company, valued at $79,432,020.69. This represents a 21.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 939,714 shares of company stock valued at $419,126,104 in the last quarter. Company insiders own 13.66% of the company's stock.

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.