Epoch Investment Partners Inc. Raises Stake in AppLovin Corporation $APP

Epoch Investment Partners Inc. raised its holdings in AppLovin Corporation (NASDAQ:APP) by 67.4% during the first quarter, HoldingsChannel reports. The firm owned 158,017 shares of the company’s stock after buying an additional 63,638 shares during the period. Epoch Investment Partners Inc.’s holdings in AppLovin were worth $62,891,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Vanguard Group Inc. boosted its stake in shares of AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after buying an additional 166,117 shares during the period. State Street Corp raised its stake in AppLovin by 0.4% during the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after acquiring an additional 52,377 shares during the last quarter. Geode Capital Management LLC raised its stake in AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after acquiring an additional 448,005 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in AppLovin by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock worth $4,103,386,000 after acquiring an additional 212,349 shares during the period. Finally, Morgan Stanley grew its stake in shares of AppLovin by 10.7% in the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after purchasing an additional 538,806 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APP shares. KeyCorp set a $775.00 price target on AppLovin in a research note on Wednesday, June 10th. BTIG Research reissued a “buy” rating and issued a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Benchmark restated a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Wedbush restated an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of AppLovin in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $668.45.

AppLovin Stock Performance

NASDAQ:APP opened at $391.98 on Friday. The firm’s fifty day simple moving average is $498.97 and its 200-day simple moving average is $480.08. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market cap of $131.68 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 0.65 and a beta of 2.49. AppLovin Corporation has a fifty-two week low of $357.03 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last issued 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 analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. AppLovin’s revenue was up 58.9% on a year-over-year basis. Analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current fiscal 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.