Mizuho Markets Americas LLC Sells 29,143 Shares of AppLovin Corporation $APP

Mizuho Markets Americas LLC reduced its position in shares of AppLovin Corporation (NASDAQ:APP) by 97.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 857 shares of the company’s stock after selling 29,143 shares during the period. Mizuho Markets Americas LLC’s holdings in AppLovin were worth $341,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Washington Trust Advisors Inc. lifted its stake in 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 acquiring an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of AppLovin during the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC bought a new position in shares of AppLovin during the 4th quarter worth approximately $32,000. Osbon Capital Management LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $36,000. Finally, Dogwood Wealth Management LLC raised its holdings in shares of AppLovin by 84.4% in the fourth quarter. Dogwood Wealth Management LLC now owns 59 shares of the company’s stock valued at $40,000 after purchasing an additional 27 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APP. KeyCorp set a $775.00 price objective on shares of AppLovin in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Wells Fargo & Company lifted their price target on shares of AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Raymond James Financial began coverage on shares of AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price target on the stock. Finally, Weiss Ratings downgraded shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $668.45.

AppLovin Trading Down 1.7%

Shares of AppLovin stock opened at $391.98 on Friday. The stock has a market cap of $131.68 billion, a P/E ratio of 33.68, a P/E/G ratio of 0.65 and a beta of 2.49. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12-month low of $357.03 and a 12-month high of $745.61. The business’s 50 day moving average is $498.97 and its 200-day moving average is $480.08.

AppLovin (NASDAQ:APP) last released 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 analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm’s revenue was up 58.9% on a year-over-year basis. During the same period last year, the business earned $1.67 earnings per share. Equities research analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction on Tuesday, June 16th. The shares were 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 owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is owned by company insiders.

AppLovin Company 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.