Oddo BHF Asset Management Sas Increases Stake in AppLovin Corporation $APP

Oddo BHF Asset Management Sas lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 49.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,080 shares of the company’s stock after buying an additional 3,999 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in AppLovin were worth $4,808,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC purchased a new position in AppLovin in the first quarter worth approximately $25,000. Washington Trust Advisors Inc. increased its position in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of AppLovin in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at $32,000. Finally, First Pacific Financial purchased a new stake in shares of AppLovin during the 1st quarter worth $33,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of APP stock opened at $403.87 on Friday. The stock’s 50-day moving average is $492.91 and its two-hundred day moving average is $472.81. The firm has a market cap of $135.68 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 0.65 and a beta of 2.49. AppLovin Corporation has a 1 year low of $359.00 and a 1 year 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.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 EPS. Analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Benchmark reiterated a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 393,000 shares of company stock valued at $197,297,363 in the last 90 days. Company insiders own 12.81% of the company’s stock.

AppLovin Profile

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.