Credit Agricole S A Has $5.58 Million Stock Holdings in AppLovin Corporation $APP

Key Points

• Credit Agricole S A increased its holdings in AppLovin Corporation by 13.7%, bringing its total stake to approximately $5.58 million at the end of the first quarter.
• Insider transactions showed significant activity, including the sale of 200,000 shares by Director Herald Y. Chen for about $92.94 million, representing a 34.37% decrease in their position.
• Brokerage firms are optimistic about AppLovin, with several raising their price targets and maintaining favorable ratings, leading to an average consensus target price of $472.86 for the stock.

Credit Agricole S A raised its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,061 shares of the company's stock after buying an additional 2,544 shares during the quarter. Credit Agricole S A's holdings in AppLovin were worth $5,581,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin during the 4th quarter worth $25,000. Atala Financial Inc acquired a new position in shares of AppLovin during the 1st quarter worth $26,000. ORG Wealth Partners LLC acquired a new position in shares of AppLovin during the 1st quarter worth $29,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin during the 1st quarter worth $27,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of AppLovin during the 1st quarter worth $29,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $464.69, for a total value of $92,938,000.00. Following the completion of the transaction, the director owned 381,929 shares in the company, valued at approximately $177,478,587.01. This represents a 34.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the transaction, the chief technology officer owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,221,152 shares of company stock worth $538,490,378. Corporate insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APP. Wedbush restated an "outperform" rating and set a $620.00 price target on shares of AppLovin in a research note on Thursday, August 7th. Zacks Research raised shares of AppLovin to a "strong-buy" rating in a report on Friday, August 8th. BTIG Research upped their price objective on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Piper Sandler upped their price objective on shares of AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $472.86.

AppLovin Price Performance

Shares of AppLovin stock opened at $441.68 on Friday. 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 fifty-two week low of $82.51 and a fifty-two week high of $525.15. The firm has a fifty day moving average price of $375.38 and a two-hundred day moving average price of $345.14. The company has a market cap of $149.40 billion, a PE ratio of 62.74, a price-to-earnings-growth ratio of 2.34 and a beta of 2.43.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating 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 firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm earned $0.89 EPS. The business's revenue was up 77.1% on a year-over-year basis. Analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

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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