Mizuho Markets Cayman LP Has $1.76 Million Holdings in AppLovin Corporation $APP

Mizuho Markets Cayman LP lessened its holdings in AppLovin Corporation (NASDAQ:APP) by 31.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 hedge funds and other institutional investors also recently made changes to their positions in the business. Generate Investment Management Ltd bought a new stake in AppLovin during the fourth quarter worth about $2,347,000. Calamos Advisors LLC grew its holdings in shares of AppLovin by 73.3% during the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock worth $32,840,000 after purchasing an additional 20,609 shares during the last quarter. Capricorn Fund Managers Ltd bought a new position in shares of AppLovin in the fourth quarter valued at about $4,043,000. SG Americas Securities LLC grew its holdings in AppLovin by 114.7% during the 4th quarter. SG Americas Securities LLC now owns 77,158 shares of the company’s stock worth $51,991,000 after acquiring an additional 41,215 shares during the last quarter. Finally, Dara Capital US Inc. bought a new position in shares of AppLovin in the fourth quarter worth about $1,747,000. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating on shares of AppLovin in a research note on Tuesday, July 7th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a report on Thursday, May 28th. Benchmark restated a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Wedbush reiterated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Finally, UBS Group reduced their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $668.45.

AppLovin Stock Performance

NASDAQ APP opened at $412.48 on Thursday. The firm has a market capitalization of $138.57 billion, a P/E ratio of 35.44, a price-to-earnings-growth ratio of 0.70 and a beta of 2.49. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm’s fifty day moving average price is $502.88 and its two-hundred day moving average price is $482.25. AppLovin Corporation has a 1 year low of $349.21 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) 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 net margin of 64.29% and a return on equity of 219.37%. AppLovin’s revenue was up 58.9% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. As a group, research analysts anticipate that AppLovin Corporation will post 15.93 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the completion of the sale, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the transaction, the insider directly owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 393,000 shares of company stock worth $197,297,363 in the last three months. 12.81% of the stock is owned by insiders.

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.