Mufg Securities Americas Inc. Invests $5.25 Million in AppLovin Corporation $APP

Mufg Securities Americas Inc. acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the 3rd quarter, Holdings Channel reports. The firm acquired 7,300 shares of the company’s stock, valued at approximately $5,245,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Chilton Capital Management LLC acquired a new stake in AppLovin in the third quarter worth $29,000. Activest Wealth Management grew its stake in shares of AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after buying an additional 38 shares during the period. Heartwood Wealth Advisors LLC bought a new stake in AppLovin in the 3rd quarter valued at about $33,000. CBIZ Investment Advisory Services LLC raised its stake in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period. Finally, Bogart Wealth LLC boosted its holdings in AppLovin by 100.0% in the third quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on AppLovin from $735.00 to $543.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Morgan Stanley set a $720.00 price target on shares of AppLovin in a research note on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Weiss Ratings raised shares of AppLovin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Finally, Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Twenty-one equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $651.77.

AppLovin Trading Down 9.1%

Shares of APP stock opened at $380.62 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The company has a market capitalization of $128.63 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 0.86 and a beta of 2.49. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The company has a 50-day simple moving average of $560.57 and a two-hundred day simple moving average of $573.34.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company posted $1.73 earnings per share. AppLovin’s quarterly revenue was up 66.0% compared to the same quarter last year. Research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the sale, the director owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the transaction, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 13.66% of the company’s stock.

About AppLovin

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.