Sumitomo Mitsui DS Asset Management Company Ltd Purchases 824 Shares of AppLovin Corporation (NASDAQ:APP)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 4.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,808 shares of the company's stock after purchasing an additional 824 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in AppLovin were worth $5,249,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in APP. HighPoint Advisor Group LLC boosted its holdings in AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after purchasing an additional 31 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after buying an additional 33 shares during the period. Forum Financial Management LP grew its position in AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after buying an additional 33 shares in the last quarter. Truvestments Capital LLC grew its position in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock worth $1,696,000 after buying an additional 38 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in AppLovin by 13.4% during the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $97,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Down 0.2%

NASDAQ APP opened at $336.00 on Thursday. The stock's 50 day simple moving average is $349.64 and its 200 day simple moving average is $333.90. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15. The firm has a market cap of $113.70 billion, a PE ratio of 60.65, a price-to-earnings-growth ratio of 2.01 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 announced its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The business's revenue for the quarter was up 40.3% on a year-over-year basis. As a group, sell-side analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APP. Wells Fargo & Company lifted their price objective on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley lifted their price target on shares of AppLovin from $420.00 to $460.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. HSBC set a $436.00 price target on shares of AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. Arete Research set a $200.00 target price on shares of AppLovin in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $438.85.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the sale, the director directly owned 3,451 shares of the company's stock, valued at $1,450,455.30. This represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barbara Messing sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total transaction of $573,690.00. Following the completion of the transaction, the director owned 9,510 shares of the company's stock, valued at $3,637,194.60. This trade represents a 13.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Corporate insiders own 13.66% of the company's stock.

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.

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