MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 181,040 Shares of AppLovin Co. (NASDAQ:APP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 6,883.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,670 shares of the company's stock after acquiring an additional 181,040 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of AppLovin worth $59,488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oxinas Partners Wealth Management LLC bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $1,081,000. Barclays PLC raised its position in shares of AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares during the period. Tcfg Wealth Management LLC bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $369,000. Caprock Group LLC raised its position in shares of AppLovin by 42.2% in the fourth quarter. Caprock Group LLC now owns 42,146 shares of the company's stock valued at $13,648,000 after purchasing an additional 12,500 shares during the period. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $382,000. 41.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APP has been the topic of several research reports. Arete Research set a $200.00 price target on shares of AppLovin in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Wells Fargo & Company upped their target price on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. The Goldman Sachs Group upped 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. Finally, Piper Sandler upped their target price on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $433.85.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 570 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $371.12, for a total transaction of $211,538.40. Following the sale, the director now owns 6,231 shares in the company, valued at $2,312,448.72. The trade was a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,119,470 shares of company stock worth $409,752,180 in the last three months. Company insiders own 14.69% of the company's stock.

AppLovin Stock Performance

APP stock traded down $4.27 on Friday, hitting $362.34. The company had a trading volume of 4,689,782 shares, compared to its average volume of 6,032,635. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock's 50-day simple moving average is $285.14 and its 200 day simple moving average is $318.48. The stock has a market cap of $123.18 billion, a price-to-earnings ratio of 79.81, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company's revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. As a group, equities research analysts expect that AppLovin Co. will post 6.87 earnings per share 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.