Mirae Asset Global Investments Co. Ltd. Buys 21,427 Shares of AppLovin Corporation $APP

Key Points

• Mirae Asset Global Investments increased its stake in AppLovin by 12.3%, purchasing 21,427 shares to hold 195,265 shares valued at about $131.6 million (≈0.06% of the company).
• AppLovin posted a strong quarter, beating estimates with $3.24 EPS vs. $2.89 expected and $1.66B in revenue (up 66% year‑over‑year), while reporting very high profitability (net margin 57.4%, ROE 245.6%).
• Significant insider selling occurred last quarter—365,244 shares worth roughly $169.6 million were sold, including 163,910 shares by director Eduardo Vivas and 50,000 shares by CEO Arash Foroughi; insiders still own 13.66% of the company.

Mirae Asset Global Investments Co. Ltd. increased its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 12.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 195,265 shares of the company's stock after buying an additional 21,427 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of AppLovin worth $131,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin in the fourth quarter worth $27,000. Chilton Capital Management LLC bought a new position in AppLovin in the 3rd quarter worth about $29,000. Activest Wealth Management grew its position in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company's stock valued at $31,000 after purchasing an additional 38 shares during the last quarter. Heartwood Wealth Advisors LLC bought a new stake in AppLovin during the 3rd quarter valued at about $33,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock valued at $33,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of APP opened at $466.09 on Friday. The firm has a market capitalization of $157.20 billion, a P/E ratio of 47.80, a PEG ratio of 0.81 and a beta of 2.50. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. AppLovin Corporation has a one year low of $222.02 and a one year high of $745.61. The business has a fifty day moving average of $428.03 and a 200 day moving average of $549.42.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.AppLovin's revenue was up 66.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. As a group, sell-side analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on APP shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Benchmark restated a "buy" rating on shares of AppLovin in a report on Friday, March 6th. Wells Fargo & Company upped their price objective on AppLovin from $543.00 to $560.00 and gave the company an "overweight" rating in a research report on Monday, April 6th. Weiss Ratings downgraded AppLovin from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, March 10th. Finally, The Goldman Sachs Group reduced their target price on AppLovin from $710.00 to $585.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $661.95.

Insider Transactions at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the sale, the chief executive officer directly owned 2,480,414 shares of the company's stock, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock worth $169,584,607 in the last quarter. Company insiders own 13.66% of the company's stock.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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