Groupama Asset Managment Acquires New Shares in AppLovin Co. (NASDAQ:APP)

Groupama Asset Managment acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,247 shares of the company’s stock, valued at approximately $1,089,000.

A number of other institutional investors also recently bought and sold shares of APP. State Street Corp increased its stake in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Zacks Investment Management increased its position in AppLovin by 328.1% during the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after buying an additional 81,331 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of AppLovin by 38.8% in the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock worth $3,286,000 after acquiring an additional 7,039 shares during the last quarter. Oxinas Partners Wealth Management LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at $1,081,000. Finally, Virtu Financial LLC acquired a new stake in shares of AppLovin during the third quarter valued at $3,211,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APP shares. Oppenheimer restated an “outperform” rating on shares of AppLovin in a report on Thursday, March 27th. Citigroup raised their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Benchmark raised their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Loop Capital reiterated a “buy” rating on shares of AppLovin in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $435.47.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $290.39 on Thursday. The business’s 50-day simple moving average is $347.77 and its 200 day simple moving average is $286.73. The company has a market cap of $98.72 billion, a P/E ratio of 63.96, a PEG ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 in the last ninety days. Insiders own 14.69% of the company’s stock.

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.