Mirae Asset Global Investments Co. Ltd. Has $10.18 Million Stake in AppLovin Co. (NASDAQ:APP)

Mirae Asset Global Investments Co. Ltd. grew its stake in AppLovin Co. (NASDAQ:APP) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 255,385 shares of the company’s stock after purchasing an additional 5,950 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AppLovin were worth $10,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its holdings in AppLovin by 16.5% in the 3rd quarter. CWM LLC now owns 2,463 shares of the company’s stock worth $98,000 after purchasing an additional 348 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of AppLovin by 5.4% during the first quarter. Blair William & Co. IL now owns 7,552 shares of the company’s stock worth $416,000 after purchasing an additional 386 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of AppLovin by 86.1% in the third quarter. Tower Research Capital LLC TRC now owns 927 shares of the company’s stock valued at $37,000 after buying an additional 429 shares during the period. JPMorgan Chase & Co. raised its holdings in AppLovin by 99.0% in the 1st quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock valued at $54,000 after buying an additional 488 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in AppLovin by 2.9% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,642 shares of the company’s stock worth $905,000 after buying an additional 641 shares during the period. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on APP shares. Oppenheimer upped their price target on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. The Goldman Sachs Group increased their price objective on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Wedbush lifted their target price on AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. Finally, HSBC began coverage on AppLovin in a research report on Monday, December 18th. They set a “buy” rating and a $53.20 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.36.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now owns 546,560 shares in the company, valued at $31,569,305.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the sale, the insider now owns 546,560 shares in the company, valued at approximately $31,569,305.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the transaction, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock valued at $4,416,815 in the last 90 days. 12.43% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

AppLovin stock opened at $75.57 on Friday. The stock has a market capitalization of $25.84 billion, a price-to-earnings ratio of 75.57, a PEG ratio of 1.54 and a beta of 1.90. AppLovin Co. has a 52-week low of $15.41 and a 52-week high of $79.55. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The stock’s 50 day moving average price is $62.89 and its two-hundred day moving average price is $47.86.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. The business had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. AppLovin’s revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) earnings per share. On average, equities analysts predict that AppLovin Co. will post 2.48 earnings per share for the current year.

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.