AppLovin Corporation $APP Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in AppLovin Corporation (NASDAQ:APP) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,549 shares of the company’s stock after acquiring an additional 2,327 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in AppLovin were worth $44,665,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dynasty Wealth Management LLC increased its holdings in AppLovin by 117,664.4% in the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock valued at $716,133,000 after buying an additional 2,700,399 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the last quarter. Vanguard Group Inc. boosted its position in AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares in the last quarter. Baillie Gifford & Co. boosted its position in AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in AppLovin by 86.5% in the first quarter. Jennison Associates LLC now owns 2,386,980 shares of the company’s stock valued at $632,478,000 after purchasing an additional 1,107,104 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $464.69, for a total transaction of $92,938,000.00. Following the sale, the director owned 381,929 shares in the company, valued at $177,478,587.01. This trade represents a 34.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of AppLovin stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the sale, the chief executive officer directly owned 2,620,054 shares of the company’s stock, valued at approximately $1,103,147,536.16. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Company insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada initiated coverage on AppLovin in a research report on Monday, October 13th. They issued an “outperform” rating and a $700.00 price target for the company. UBS Group increased their price objective on shares of AppLovin from $540.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Piper Sandler lifted their target price on shares of AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. BTIG Research upped their price target on shares of AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Phillip Securities upgraded shares of AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $600.59.

AppLovin Price Performance

NASDAQ:APP opened at $552.64 on Wednesday. The firm has a market cap of $186.93 billion, a price-to-earnings ratio of 78.50, a price-to-earnings-growth ratio of 3.07 and a beta of 2.53. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company’s 50-day moving average is $559.97 and its two-hundred day moving average is $416.72. AppLovin Corporation has a 12-month low of $157.88 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company’s quarterly revenue was up 77.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. Research analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin Profile

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.