AppLovin Corporation $APP Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA reduced its position in shares of AppLovin Corporation (NASDAQ:APP) by 27.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,856 shares of the company’s stock after selling 3,719 shares during the period. Union Bancaire Privee UBP SA’s holdings in AppLovin were worth $6,641,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Lazard Freres Gestion S.A.S. acquired a new position in AppLovin in the third quarter valued at $2,514,000. Mediolanum International Funds Ltd increased its position in shares of AppLovin by 73.5% during the third quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock worth $54,664,000 after purchasing an additional 32,510 shares in the last quarter. Thames Capital Management LLC increased its position in shares of AppLovin by 114.8% during the third quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock worth $12,001,000 after purchasing an additional 8,925 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of AppLovin by 14.8% in the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after purchasing an additional 15,074 shares during the last quarter. Finally, APG Asset Management N.V. purchased a new stake in shares of AppLovin in the 3rd quarter valued at about $4,958,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Vasily Shikin sold 5,231 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the transaction, the chief technology officer directly owned 30,658 shares in the company, valued at $14,638,275.26. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 40,704 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the transaction, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 344,334 shares of company stock valued at $159,993,818 over the last quarter. Corporate insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on APP shares. Arete Research set a $340.00 price target on AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Benchmark reissued a “buy” rating on shares of AppLovin in a report on Friday, March 6th. Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of AppLovin in a research report on Wednesday, March 11th. Evercore reaffirmed a “buy” rating on shares of AppLovin in a report on Friday, January 30th. Finally, Jefferies Financial Group reduced their price target on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $654.50.

AppLovin Trading Down 0.6%

NASDAQ:APP opened at $439.92 on Friday. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock’s 50 day simple moving average is $480.22 and its 200-day simple moving average is $572.62. The firm has a market cap of $148.38 billion, a P/E ratio of 45.12, a PEG ratio of 0.78 and a beta of 2.51.

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

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.