1,438 Shares in AppLovin Corporation $APP Acquired by Groupama Asset Managment

Groupama Asset Managment acquired a new stake in AppLovin Corporation (NASDAQ:APP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,438 shares of the company’s stock, valued at approximately $572,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp grew its stake in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares during the period. Corient Private Wealth LLC grew its position in shares of AppLovin by 3,118.6% during the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock worth $2,826,049,000 after buying an additional 4,063,763 shares during the period. Norges Bank bought a new stake in shares of AppLovin in the 4th quarter valued at about $2,040,321,000. Northern Trust Corp raised its position in shares of AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock valued at $1,706,144,000 after acquiring an additional 756,660 shares during the period. Finally, Amundi boosted its stake in AppLovin by 81.3% during the 4th quarter. Amundi now owns 1,426,896 shares of the company’s stock worth $961,471,000 after acquiring an additional 639,836 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Argus started coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price on the stock. BTIG Research reaffirmed a “buy” rating and set a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Wells Fargo & Company boosted their target price on AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research note 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $668.45.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares in the company, valued at approximately $106,470,000. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated 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 transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 393,000 shares of company stock valued at $197,297,363 in the last quarter. Company insiders own 12.81% of the company’s stock.

AppLovin Price Performance

NASDAQ:APP opened at $395.90 on Monday. 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 company has a market cap of $133.00 billion, a PE ratio of 34.01, a PEG ratio of 0.65 and a beta of 2.54. AppLovin Corporation has a 52-week low of $359.00 and a 52-week high of $745.61. The stock has a 50-day simple moving average of $491.19 and a 200 day simple moving average of $470.96.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm 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%.The business’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 EPS. On average, sell-side analysts expect that AppLovin Corporation will post 15.93 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.