Mizuho Markets Cayman LP Sells 2,042 Shares of AppLovin Corporation $APP

Mizuho Markets Cayman LP decreased its position in AppLovin Corporation (NASDAQ:APP) by 31.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,435 shares of the company’s stock after selling 2,042 shares during the quarter. Mizuho Markets Cayman LP’s holdings in AppLovin were worth $1,765,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Militia Capital Management LLC acquired a new stake in AppLovin during the 1st quarter worth approximately $2,277,000. First Citizens Bank & Trust Co. acquired a new position in AppLovin in the 1st quarter valued at $4,979,000. CI Investments Inc. grew its holdings in AppLovin by 20.4% in the 1st quarter. CI Investments Inc. now owns 108,566 shares of the company’s stock valued at $43,209,000 after buying an additional 18,377 shares in the last quarter. First Trust Advisors LP increased its position in AppLovin by 0.3% during the 1st quarter. First Trust Advisors LP now owns 546,146 shares of the company’s stock worth $217,366,000 after buying an additional 1,456 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in AppLovin during the 1st quarter worth $5,094,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price target on shares of AppLovin in a research report on Thursday, May 28th. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Argus assumed coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price objective for the company. Finally, KeyCorp set a $775.00 target price on shares of AppLovin in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $668.45.

AppLovin Stock Performance

NASDAQ:APP opened at $412.48 on Thursday. The company has a market cap of $138.57 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 0.70 and a beta of 2.49. AppLovin Corporation has a fifty-two week low of $349.21 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The stock has a fifty day moving average price of $502.88 and a 200-day moving average price of $482.25.

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 company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin’s revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the business earned $1.67 earnings per share. As a group, equities analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Insider Activity

In other news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 393,000 shares of company stock valued at $197,297,363. Company insiders own 12.81% 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.