MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $275.70 Million Position in AppLovin Corporation $APP

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AppLovin Corporation (NASDAQ:APP) by 18.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 383,742 shares of the company’s stock after buying an additional 60,945 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.11% of AppLovin worth $275,702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after acquiring an additional 7,051,663 shares in the last quarter. State Street Corp grew its stake in shares of AppLovin by 2.4% during the 2nd quarter. State Street Corp now owns 5,615,415 shares of the company’s stock worth $1,965,844,000 after acquiring an additional 133,402 shares in the last quarter. Invesco Ltd. raised its holdings in shares of AppLovin by 9.4% in the third quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock valued at $3,084,514,000 after purchasing an additional 367,083 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of AppLovin by 55.2% in 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 last quarter. Finally, Kensico Capital Management Corp lifted its position in shares of AppLovin by 3.1% in the third quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock worth $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.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the sale, the chief technology officer directly owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the transaction, the insider owned 277,110 shares of the company’s stock, valued at $182,097,294.30. The trade was a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 188,033 shares of company stock worth $90,662,374 in the last ninety days. Insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on APP shares. Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of AppLovin in a report on Wednesday, March 11th. Jefferies Financial Group lowered their price target 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. The Goldman Sachs Group cut their price target 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. Scotiabank increased their price objective on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, February 12th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $654.50.

AppLovin Price Performance

NASDAQ:APP opened at $453.30 on Tuesday. The stock has a market capitalization of $152.89 billion, a PE ratio of 46.49, a P/E/G ratio of 0.81 and a beta of 2.51. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The firm has a fifty day simple moving average of $490.72 and a 200 day simple moving average of $574.61. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.35. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 earnings per share. On average, research analysts expect that AppLovin Corporation will post 6.87 EPS 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.