Mizuho Markets Americas LLC Takes $20.22 Million Position in AppLovin Corporation $APP

Key Points

• Mizuho Markets Americas LLC opened a new position in AppLovin during the fourth quarter, buying 30,000 shares valued at about $20.2 million.
• AppLovin reported strong first-quarter results, with EPS of $3.56 beating estimates and revenue of $1.84 billion also topping forecasts; revenue jumped 58.9% year over year.
• Despite the strong performance, insiders have been selling shares, including the CEO and a director, while analysts overall remain constructive with a Moderate Buy consensus and an average target price of $664.35.

Mizuho Markets Americas LLC acquired a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,000 shares of the company's stock, valued at approximately $20,215,000.

Other large investors also recently modified their holdings of the company. Board of the Pension Protection Fund bought a new position in AppLovin during the fourth quarter worth about $27,000. Washington Trust Advisors Inc. increased its position in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock worth $27,000 after acquiring an additional 24 shares during the period. Chilton Capital Management LLC bought a new position in AppLovin during the third quarter worth about $29,000. Activest Wealth Management increased its position in AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company's stock worth $31,000 after acquiring an additional 38 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new position in AppLovin during the fourth quarter worth about $32,000. 41.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the sale, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. 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 over the last ninety days. Corporate insiders own 13.66% of the company's stock.

AppLovin Trading Down 0.9%

Shares of AppLovin stock opened at $481.68 on Friday. The company has a market capitalization of $161.82 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 0.79 and a beta of 2.37. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61. The firm's 50-day moving average price is $446.31 and its two-hundred day moving average price is $523.95.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business's revenue for the quarter was up 58.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 earnings per share. On average, analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APP. Scotiabank raised their price target on shares of AppLovin from $750.00 to $775.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Weiss Ratings lowered shares of AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 7th. Morgan Stanley set a $720.00 price target on shares of AppLovin in a research report on Thursday, February 12th. UBS Group lowered their price target on shares of AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Finally, Benchmark reaffirmed a "buy" rating on shares of AppLovin in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $664.35.

AppLovin 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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