Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in AppLovin Corporation $APP

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in AppLovin Corporation (NASDAQ:APP) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 568,365 shares of the company’s stock after purchasing an additional 26,252 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.17% of AppLovin worth $351,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after buying an additional 166,117 shares in the last quarter. State Street Corp grew its holdings in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares during the last quarter. Invesco Ltd. boosted its position in AppLovin by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock worth $3,084,514,000 after acquiring an additional 367,083 shares during the period. Jennison Associates LLC increased its holdings in shares of AppLovin by 55.2% during the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after purchasing an additional 1,381,970 shares during the period. Finally, Kensico Capital Management Corp raised its stake in shares of AppLovin by 3.1% during the third quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock valued at $2,240,767,000 after purchasing an additional 95,000 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $478.11 on Wednesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The firm has a market cap of $161.26 billion, a PE ratio of 49.04, a PEG ratio of 0.83 and a beta of 2.37. The firm’s 50 day moving average price is $438.96 and its 200 day moving average price is $534.64. AppLovin Corporation has a twelve month low of $290.96 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $2.89 by $0.35. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 earnings per share. As a group, research analysts expect that AppLovin Corporation will post 15.72 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the topic of a number of research reports. Weiss Ratings downgraded shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. The Goldman Sachs Group dropped their target price on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Evercore restated a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Finally, Arete Research set a $340.00 target price on AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $672.05.

Insider Buying and Selling

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 5,231 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the transaction, the chief technology officer owned 30,658 shares in the company, valued at approximately $14,638,275.26. This trade represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 365,244 shares of company stock worth $169,584,607. Corporate insiders own 13.66% of the company’s stock.

About AppLovin

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.