SBI Securities Co. Ltd. Has $1.68 Million Stock Position in AppLovin Corporation (NASDAQ:APP)

SBI Securities Co. Ltd. lifted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 36.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,328 shares of the company's stock after acquiring an additional 1,688 shares during the period. SBI Securities Co. Ltd.'s holdings in AppLovin were worth $1,677,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in APP. Revolve Wealth Partners LLC acquired a new stake in AppLovin during the 4th quarter valued at $294,000. Proficio Capital Partners LLC acquired a new stake in AppLovin during the 4th quarter valued at $474,000. Independent Advisor Alliance acquired a new stake in AppLovin during the 4th quarter valued at $518,000. Sequoia Financial Advisors LLC grew its holdings in AppLovin by 45.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,143 shares of the company's stock valued at $1,018,000 after purchasing an additional 987 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in AppLovin by 25.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,749 shares of the company's stock valued at $4,128,000 after purchasing an additional 2,565 shares in the last quarter. 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 400,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the transaction, the director directly owned 221,209 shares of the company's stock, valued at $82,867,103.49. This trade represents a 64.39% decrease in their position. 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 171,420 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $373.77, for a total transaction of $64,071,653.40. Following the transaction, the director directly owned 221,209 shares of the company's stock, valued at $82,681,287.93. This represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. FBN Securities initiated coverage on shares of AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $470.00 price objective (up previously from $455.00) on shares of AppLovin in a research note on Thursday, June 26th. Finally, Scotiabank raised shares of AppLovin to a "strong-buy" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $438.43.

AppLovin Stock Performance

APP stock traded up $8.28 on Thursday, reaching $363.78. 4,590,686 shares of the company were exchanged, compared to its average volume of 6,255,989. AppLovin Corporation has a 12 month low of $60.67 and a 12 month high of $525.15. The stock's fifty day moving average price is $361.32 and its 200 day moving average price is $334.61. The firm has a market capitalization of $123.10 billion, a PE ratio of 65.66, a PEG ratio of 2.10 and a beta of 2.42. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 EPS. On average, research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

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.