AppLovin Co. (NASDAQ:APP) Shares Purchased by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lifted its holdings in AppLovin Co. (NASDAQ:APP) by 125.2% in the fourth quarter, Holdings Channel reports. The firm owned 55,663 shares of the company’s stock after buying an additional 30,950 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in AppLovin were worth $18,657,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in APP. FMR LLC raised its stake in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares during the last quarter. SVB Wealth LLC purchased a new position in AppLovin in the 4th quarter worth $1,781,922,000. Geode Capital Management LLC raised its stake in AppLovin by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after acquiring an additional 573,310 shares during the last quarter. Baillie Gifford & Co. raised its stake in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares during the last quarter. Finally, Invesco Ltd. raised its stake in AppLovin by 68.0% in the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company’s stock worth $977,639,000 after acquiring an additional 1,222,074 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on APP shares. JPMorgan Chase & Co. raised their target price on AppLovin from $270.00 to $355.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Bank of America raised their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. FBN Securities began coverage on AppLovin in a research note on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. Finally, HSBC set a $436.00 price objective on AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $433.85.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 318,900 shares of company stock worth $110,639,281. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $376.54 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The business has a 50-day moving average price of $280.48 and a 200 day moving average price of $314.77. The firm has a market cap of $128.01 billion, a PE ratio of 82.94, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business earned $0.67 EPS. AppLovin’s quarterly revenue was up 40.3% on a year-over-year basis. Sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

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.