Oddo BHF Asset Management Sas Grows Stock Holdings in AppLovin Corporation $APP

Oddo BHF Asset Management Sas raised its stake in shares of AppLovin Corporation (NASDAQ:APP) by 49.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,080 shares of the company’s stock after acquiring an additional 3,999 shares during the period. Oddo BHF Asset Management Sas’ holdings in AppLovin were worth $4,808,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Calamos Advisors LLC lifted its holdings in shares of AppLovin by 73.3% in the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock valued at $32,840,000 after purchasing an additional 20,609 shares in the last quarter. Capricorn Fund Managers Ltd purchased a new position in shares of AppLovin during the fourth quarter valued at $4,043,000. Dara Capital US Inc. purchased a new position in shares of AppLovin during the fourth quarter valued at $1,747,000. Mirae Asset Global Investments Co. Ltd. raised its position in AppLovin by 12.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,265 shares of the company’s stock valued at $131,573,000 after buying an additional 21,427 shares during the period. Finally, Aberdeen Group plc raised its position in AppLovin by 8.1% during the fourth quarter. Aberdeen Group plc now owns 67,187 shares of the company’s stock valued at $45,272,000 after buying an additional 5,058 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on APP. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Wedbush reissued an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. BTIG Research restated a “buy” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the transaction, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction that occurred on Friday, May 22nd. The shares were 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of APP stock opened at $403.87 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a fifty-two week low of $359.00 and a fifty-two week high of $745.61. The stock’s 50-day moving average is $492.91 and its two-hundred day moving average is $472.81. The firm has a market cap of $135.68 billion, a P/E ratio of 34.70, a PEG ratio of 0.65 and a beta of 2.49.

AppLovin (NASDAQ:APP) last announced its quarterly 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 analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 EPS. Analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

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.