Y Intercept Hong Kong Ltd Purchases 41,077 Shares of AppLovin Corporation $APP

Y Intercept Hong Kong Ltd grew its position in AppLovin Corporation (NASDAQ:APP) by 1,763.7% during the first quarter, HoldingsChannel reports. The firm owned 43,406 shares of the company’s stock after buying an additional 41,077 shares during the period. Y Intercept Hong Kong Ltd’s holdings in AppLovin were worth $17,276,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of APP. State Street Corp lifted its holdings in AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares during the period. Corient Private Wealth LLC boosted its position in AppLovin by 3,118.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock valued at $2,826,049,000 after acquiring an additional 4,063,763 shares during the last quarter. Norges Bank acquired a new stake in AppLovin during the 4th quarter worth about $2,040,321,000. Capital Research Global Investors acquired a new stake in AppLovin during the 3rd quarter worth about $743,899,000. Finally, Northern Trust Corp raised its position in shares of AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after acquiring an additional 756,660 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

APP stock opened at $527.06 on Friday. The stock has a market capitalization of $177.06 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 0.91 and a beta of 2.49. The company’s 50-day moving average is $500.97 and its 200-day moving average is $504.62. 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 1 year low of $325.58 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the business posted $1.67 EPS. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. Equities research analysts expect that AppLovin Corporation will post 15.96 EPS for the current fiscal year.

Analyst Ratings Changes

APP has been the topic of a number of recent analyst reports. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Raymond James Financial started coverage on AppLovin in a research note on Monday. They set a “strong-buy” rating and a $640.00 target price for the company. Argus started coverage on AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a research note 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $668.27.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 22,544 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $494.98, for a total value of $11,158,829.12. Following the transaction, the chief executive officer directly owned 2,327,684 shares in the company, valued at $1,152,157,026.32. This trade represents a 0.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. The trade was a 2.36% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 389,924 shares of company stock valued at $195,693,875. Company insiders own 13.66% of the company’s stock.

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.