Meiji Yasuda Asset Management Co Ltd. Has $3.99 Million Stake in AppLovin Corporation $APP

Meiji Yasuda Asset Management Co Ltd. lifted its position in AppLovin Corporation (NASDAQ:APP) by 782.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,919 shares of the company’s stock after acquiring an additional 5,248 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in AppLovin were worth $3,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Signature Estate & Investment Advisors LLC raised its stake in shares of AppLovin by 2.4% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 1,434 shares of the company’s stock valued at $966,000 after purchasing an additional 34 shares in the last quarter. Intellus Advisors LLC acquired a new position in shares of AppLovin in the fourth quarter valued at $238,000. Global Retirement Partners LLC raised its stake in shares of AppLovin by 327.9% in the fourth quarter. Global Retirement Partners LLC now owns 8,609 shares of the company’s stock valued at $5,801,000 after purchasing an additional 6,597 shares in the last quarter. Twin Capital Management Inc. raised its stake in shares of AppLovin by 42.8% in the fourth quarter. Twin Capital Management Inc. now owns 4,385 shares of the company’s stock valued at $2,955,000 after purchasing an additional 1,314 shares in the last quarter. Finally, Mach 1 Financial Group LLC acquired a new position in shares of AppLovin in the fourth quarter valued at $1,104,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 40,704 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the completion of the sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on APP. Jefferies Financial Group cut their target price on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. The Goldman Sachs Group dropped their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Scotiabank increased their price objective on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, Benchmark reiterated a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Stock Performance

AppLovin stock opened at $481.68 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a fifty day moving average price of $446.31 and a two-hundred day moving average price of $523.95. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The firm has a market capitalization of $161.82 billion, a P/E ratio of 41.38, a P/E/G ratio of 0.79 and a beta of 2.37.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company posted $1.67 earnings per share. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

AppLovin 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.