MML Investors Services LLC Has $43.35 Million Stock Holdings in AppLovin Corporation $APP

MML Investors Services LLC boosted its holdings in shares of AppLovin Corporation (NASDAQ:APPFree Report) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,331 shares of the company’s stock after buying an additional 1,558 shares during the period. MML Investors Services LLC’s holdings in AppLovin were worth $43,348,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Motiv8 Investments LLC acquired a new position in AppLovin during the fourth quarter worth $1,657,000. Fieldview Capital Management LLC acquired a new position in AppLovin during the fourth quarter worth $552,000. Focus Partners Wealth raised its holdings in AppLovin by 42.3% during the fourth quarter. Focus Partners Wealth now owns 67,860 shares of the company’s stock worth $45,726,000 after buying an additional 20,158 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in AppLovin by 5.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,899 shares of the company’s stock worth $70,683,000 after buying an additional 5,755 shares during the last quarter. Finally, Element Wealth LLC raised its holdings in AppLovin by 138.4% during the fourth quarter. Element Wealth LLC now owns 820 shares of the company’s stock worth $552,000 after buying an additional 476 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. KeyCorp set a $775.00 price target on shares of AppLovin in a research report on Wednesday, June 10th. Wells Fargo & Company raised their price target on shares of AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Finally, Oppenheimer dropped their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $669.62.

Read Our Latest Stock Analysis on AppLovin

AppLovin Stock Performance

Shares of APP stock opened at $520.86 on Tuesday. The firm has a market cap of $174.98 billion, a price-to-earnings ratio of 44.75, a P/E/G ratio of 0.81 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The firm’s 50-day simple moving average is $485.57 and its two-hundred day simple moving average is $520.32.

AppLovin (NASDAQ:APPGet Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the company earned $1.67 earnings per share. As a group, equities analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the sale, the chief technology officer directly owned 3,189,739 shares in the company, valued at approximately $1,545,173,366.38. The trade was a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the sale, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at $1,153,755,469.45. This represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 226,014 shares of company stock worth $113,073,400 in the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Profile

(Free Report)

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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