GQG Partners LLC recently announced the acquisition of new stake in Applovin Corp (NASDAQ:APP). The institutional investor has increased its shareholding in the Technology company by 72.97% to 26.08 million shares with purchase of 11.0 million shares. This fresh investment now brings its stake to 9.86% valued currently at $1.04 billion. In addition, The Vanguard Group, Inc. raised its holdings by 1.41 million to 17.88 million shares. And Geode Capital Management LLC has lifted its position by 2.13% or 52634.0 shares – to 2.52 million shares.
Currently, there are 302.71M common shares owned by the public and among those 135.40M shares have been available to trade.
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Insiders at the company have transacted a total of 82 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 18,299,505 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 141,575,364 shares.
The top 3 mutual fund holders in Applovin Corp are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard Small Cap Growth Index F. Vanguard Total Stock Market ETF owns 5.0 million shares of the company’s stock, all valued at over $199.07 million. The company sold -1.06 million shares recently to bring their total holdings to about 1.89% of the shares outstanding. Vanguard Small Cap Index Fund sold -0.97 million shares to see its total holdings shrink to 4.04 million shares valued at over $161.18 million and representing 1.53% of the shares outstanding. Vanguard Small Cap Growth Index F sold -0.55 million shares to bring its total holdings to over 2.26 million shares at a value of $89.87 million. Vanguard Small Cap Growth Index F now owns shares totaling to 0.85% of the shares outstanding.
However, the script later moved the day high at 44.02, up 5.38%. The company’s stock has a 5-day price change of 3.94% and 12.49% over the past three months. APP shares are trading 8.80% year to date (YTD), with the 12-month market performance up to 325.88% higher. It has a 12-month low price of $10.13 and touched a high of $45.10 over the same period. APP has an average intraday trading volume of 2.84 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.00%, 9.13%, and 33.59% respectively.
Institutional ownership of Applovin Corp (NASDAQ: APP) shares accounts for 38.27% of the company’s 302.71M shares outstanding. Mutual fund holders own 30.43%, while other institutional holders and individual stakeholders account for 43.12% and 18.15% respectively.
It has a market capitalization of $14.56B and a beta (3y monthly) value of 1.69. The stock’s trailing 12-month PE ratio is 147.27, while the earnings-per-share (ttm) stands at $0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.55% over the week and 3.38% over the month.
Analysts forecast that Applovin Corp (APP) will achieve an EPS of $Applied Materials, Inc. for the current quarter, $168.30 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $American Express Company while analysts give the company a high EPS estimate of $APA Corporation. Comparatively, EPS for the current quarter was $American Electric Power Company a year ago. Earnings per share for the fiscal year are expected to increase by 263.24%, and 87.65% over the next financial year.
Looking at the support for the APP, a number of firms have released research notes about the stock. HSBC Securities stated their Buy rating for the stock in a research note on December 18, 2023, with the firm’s price target at $53.20.
