Norinchukin Bank The Increases Stock Holdings in AppLovin Corporation $APP

Key Points

• Norinchukin Bank The increased its holdings in AppLovin Corporation by 181.1%, now owning 8,402 shares valued at approximately $2.2 million.
• Several institutional investors significantly raised their stakes in AppLovin during the first quarter, with Dynasty Wealth Management increasing shares by over 117,664%.
• CEO Arash Adam Foroughi sold 90,000 shares of AppLovin at an average price of $421.04, reducing his ownership by 3.32%.

Norinchukin Bank The lifted its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 181.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,402 shares of the company's stock after buying an additional 5,413 shares during the period. Norinchukin Bank The's holdings in AppLovin were worth $2,226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin during the fourth quarter worth approximately $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin during the 1st quarter valued at $26,000. Alpine Bank Wealth Management acquired a new position in AppLovin during the 1st quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in shares of AppLovin in the 1st quarter worth about $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in AppLovin in the 1st quarter valued at about $29,000. Institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on APP. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a report on Tuesday. Jefferies Financial Group raised their price target on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Scotiabank raised their price objective on shares of AppLovin from $430.00 to $450.00 and gave the company a "sector outperform" rating in a research report on Thursday, August 7th. Morgan Stanley increased their price objective on shares of AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Wedbush reissued an "outperform" rating and issued a $620.00 price objective on shares of AppLovin in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $472.86.

AppLovin Stock Down 2.0%

Shares of NASDAQ APP traded down $9.24 during mid-day trading on Wednesday, reaching $460.09. The company had a trading volume of 1,451,076 shares, compared to its average volume of 7,035,182. The stock has a market capitalization of $155.62 billion, a PE ratio of 65.83, a price-to-earnings-growth ratio of 2.52 and a beta of 2.43. The stock's 50 day moving average is $379.16 and its 200-day moving average is $346.11. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company's revenue was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $464.69, for a total value of $92,938,000.00. Following the transaction, the director directly owned 381,929 shares in the company, valued at $177,478,587.01. This trade represents a 34.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the sale, the chief executive officer owned 2,620,054 shares in the company, valued at approximately $1,103,147,536.16. This represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,221,152 shares of company stock valued at $538,490,378 over the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin 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.