Natixis Advisors LLC Increases Stock Position in AppLovin Corporation $APP

Natixis Advisors LLC lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,995 shares of the company’s stock after buying an additional 16,750 shares during the quarter. Natixis Advisors LLC’s holdings in AppLovin were worth $106,460,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of AppLovin by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after buying an additional 166,117 shares in the last quarter. State Street Corp lifted its stake in shares of AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after buying an additional 448,005 shares in the last quarter. Invesco Ltd. lifted its stake in shares of AppLovin by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock valued at $3,084,514,000 after buying an additional 367,083 shares in the last quarter. Finally, Kensico Capital Management Corp lifted its stake in shares of AppLovin by 3.1% during the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock valued at $2,240,767,000 after buying an additional 95,000 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APP. BTIG Research restated a “buy” rating and set a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. UBS Group lowered their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. The Goldman Sachs Group lowered their target price on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Jefferies Financial Group lowered their target price on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, Benchmark reiterated a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 50,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the transaction, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at $1,155,972,140.56. This represents a 1.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. The trade was a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 464,016 shares of company stock worth $218,477,985 over the last quarter. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $605.63 on Wednesday. The company’s fifty day moving average price is $460.05 and its 200-day moving average price is $520.92. The firm has a market capitalization of $203.46 billion, a price-to-earnings ratio of 52.03, a PEG ratio of 1.00 and a beta of 2.45. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.67 EPS. On average, equities research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

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.