Tokio Marine Asset Management Co. Ltd. Has $1.76 Million Stake in AppLovin Corporation (NASDAQ:APP)

Tokio Marine Asset Management Co. Ltd. lifted its stake in AppLovin Corporation (NASDAQ:APP) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,647 shares of the company’s stock after buying an additional 232 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in AppLovin were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Kingswood Wealth Advisors LLC boosted its stake in shares of AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock valued at $445,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AppLovin by 62.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock valued at $45,675,000 after buying an additional 66,453 shares during the period. Yousif Capital Management LLC lifted its stake in AppLovin by 3.5% during the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after purchasing an additional 119 shares during the last quarter. Peak Retirement Planning Inc. bought a new stake in AppLovin during the fourth quarter worth $969,000. Finally, Assenagon Asset Management S.A. lifted its stake in AppLovin by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company’s stock worth $1,106,000 after purchasing an additional 121 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Down 4.4%

Shares of NASDAQ:APP opened at $446.40 on Thursday. The firm has a market cap of $151.06 billion, a P/E ratio of 63.41, a P/E/G ratio of 2.61 and a beta of 2.43. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 12-month low of $80.14 and a 12-month high of $525.15. The business has a fifty day simple moving average of $370.02 and a 200 day simple moving average of $342.07.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%. AppLovin’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. Analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 100,000 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $419.91, for a total transaction of $41,991,000.00. Following the completion of the transaction, the director directly owned 181,929 shares of the company’s stock, valued at $76,393,806.39. This trade represents a 35.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 100,000 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $367.51, for a total value of $36,751,000.00. Following the sale, the chief executive officer owned 2,760,363 shares of the company’s stock, valued at approximately $1,014,461,006.13. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 400,398 shares of company stock worth $151,712,641 over the last 90 days. Company insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APP. Wedbush restated an “outperform” rating and set a $620.00 target price on shares of AppLovin in a research note on Thursday, August 7th. BTIG Research upped their target price on AppLovin from $480.00 to $483.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. upped their target price on AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Oppenheimer restated an “outperform” rating and set a $500.00 target price (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, HSBC set a $436.00 target price on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $472.33.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.