Axa S.A. Buys 13,671 Shares of AppLovin Co. (NASDAQ:APP)

Axa S.A. raised its position in shares of AppLovin Co. (NASDAQ:APP) by 33.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,807 shares of the company’s stock after acquiring an additional 13,671 shares during the quarter. Axa S.A.’s holdings in AppLovin were worth $4,561,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Caxton Associates LP lifted its position in AppLovin by 17.5% during the second quarter. Caxton Associates LP now owns 21,754 shares of the company’s stock valued at $1,810,000 after buying an additional 3,235 shares during the period. Toronto Dominion Bank lifted its position in AppLovin by 5.2% during the 2nd quarter. Toronto Dominion Bank now owns 18,135 shares of the company’s stock valued at $1,509,000 after acquiring an additional 900 shares during the period. Fred Alger Management LLC bought a new stake in AppLovin during the second quarter worth about $290,655,000. Lone Pine Capital LLC boosted its position in shares of AppLovin by 7.2% in the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after purchasing an additional 382,767 shares in the last quarter. Finally, Sandia Investment Management LP bought a new stake in shares of AppLovin in the 2nd quarter worth approximately $624,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 0.3 %

NASDAQ:APP opened at $127.75 on Monday. AppLovin Co. has a one year low of $34.45 and a one year high of $133.05. The business has a fifty day moving average price of $92.41 and a 200-day moving average price of $82.86. The firm has a market capitalization of $42.03 billion, a price-to-earnings ratio of 76.04, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue was up 44.0% on a year-over-year basis. Sell-side analysts forecast that AppLovin Co. will post 3.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APP. Benchmark increased their target price on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. Jefferies Financial Group lifted their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Bank of America increased their price target on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Finally, Citigroup boosted their price target on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.44.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at approximately $693,468,938.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the transaction, the chief technology officer now directly owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 728,933 shares of company stock worth $61,807,117. 14.69% of the stock is owned by corporate insiders.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.