Natixis Advisors LLC Has $42.58 Million Stock Position in AppLovin Corporation (NASDAQ:APP)

Key Points

• Natixis Advisors LLC reduced its stake in AppLovin Corporation by 7.2%, selling 12,500 shares in the first quarter, resulting in holdings worth approximately $42.58 million.
• AppLovin Corporation reported a 40.3% increase in revenue year-over-year, achieving $1.48 billion for the quarter, and surpassing earnings per share estimates.
• Multiple analysts have raised their price targets for AppLovin, with Goldman Sachs increasing their forecast to $435.00 and BTIG Research setting a target of $483.00.

Natixis Advisors LLC reduced its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,681 shares of the company's stock after selling 12,500 shares during the period. Natixis Advisors LLC's holdings in AppLovin were worth $42,576,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Kingswood Wealth Advisors LLC raised its holdings in shares of AppLovin by 5.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after purchasing an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of AppLovin by 62.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after purchasing an additional 66,453 shares during the period. Yousif Capital Management LLC raised its holdings in shares of AppLovin by 3.5% during the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after purchasing an additional 119 shares during the period. Peak Retirement Planning Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth $969,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of AppLovin by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after purchasing an additional 121 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 9,714 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the transaction, the chief financial officer owned 192,421 shares of the company's stock, valued at approximately $81,394,083. This trade represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herald Y. Chen sold 100,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $419.91, for a total value of $41,991,000.00. Following the transaction, the director owned 181,929 shares in the company, valued at approximately $76,393,806.39. This trade represents a 35.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock valued at $455,062,980 over the last ninety days. Insiders own 13.66% of the company's stock.

AppLovin Trading Down 3.0%

APP stock traded down $11.53 during mid-day trading on Friday, reaching $379.17. 6,325,484 shares of the stock traded hands, compared to its average volume of 3,866,259. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin Corporation has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a market cap of $128.31 billion, a P/E ratio of 68.44, a P/E/G ratio of 2.33 and a beta of 2.43. The stock's fifty day moving average is $363.45 and its 200-day moving average is $337.53.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm's revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. As a group, sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APP shares. The Goldman Sachs Group increased their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Benchmark reaffirmed a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. UBS Group increased their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Wedbush raised shares of AppLovin to a "strong-buy" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $447.57.

About AppLovin

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.