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

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in AppLovin Corporation (NASDAQ:APP) by 18.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 383,742 shares of the company’s stock after acquiring an additional 60,945 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in AppLovin were worth $275,702,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in APP. Chilton Capital Management LLC bought a new position in AppLovin during the third quarter worth $29,000. Activest Wealth Management raised its position in shares of AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after purchasing an additional 38 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of AppLovin during the 2nd quarter worth about $33,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth about $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in shares of AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares in the company, valued at $182,097,294.30. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 5,231 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the completion of the sale, the chief technology officer directly owned 30,658 shares in the company, valued at approximately $14,638,275.26. This represents a 14.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 188,033 shares of company stock worth $90,662,374 over the last three months. Insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $453.30 on Tuesday. The firm has a 50 day moving average of $490.72 and a 200-day moving average of $574.61. The stock has a market capitalization of $152.89 billion, a PE ratio of 46.49, a PEG ratio of 0.81 and a beta of 2.51. 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 Corporation has a 12 month low of $200.50 and a 12 month high of $745.61.

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

Analysts Set New Price Targets

APP has been the topic of a number of research reports. The Goldman Sachs Group decreased their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Benchmark restated a “buy” rating on shares of AppLovin in a report on Friday, March 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $650.00 target price (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Arete Research set a $340.00 target price on AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, UBS Group set a $740.00 price target on AppLovin in a report on Thursday, February 12th. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $654.50.

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.