ABN AMRO Bank N.V. Sells 2,540 Shares of AppLovin Corporation $APP

ABN AMRO Bank N.V. lessened its stake in shares of AppLovin Corporation (NASDAQ:APP) by 46.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,920 shares of the company’s stock after selling 2,540 shares during the period. ABN AMRO Bank N.V.’s holdings in AppLovin were worth $1,161,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its position in shares of AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after buying an additional 3,438 shares during the last quarter. APG Asset Management N.V. acquired a new position in shares of AppLovin during the 3rd quarter worth approximately $4,958,000. Franklin Resources Inc. increased its holdings in shares of AppLovin by 24.9% during the 3rd quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock worth $1,754,996,000 after acquiring an additional 487,492 shares during the last quarter. Generate Investment Management Ltd bought a new stake in AppLovin in the 4th quarter valued at $2,347,000. Finally, Kinetic Partners Management LP raised its stake in AppLovin by 7.5% in the 3rd quarter. Kinetic Partners Management LP now owns 128,106 shares of the company’s stock valued at $92,049,000 after acquiring an additional 8,930 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. Wedbush reiterated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Wells Fargo & Company raised their target price on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Oppenheimer reduced their target price on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $669.62.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the 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 transaction, the director owned 6,785,087 shares in the company, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 389,924 shares of company stock worth $195,693,875. 13.66% of the stock is currently owned by insiders.

AppLovin Price Performance

APP stock opened at $477.08 on Monday. AppLovin Corporation has a fifty-two week low of $325.58 and a fifty-two week high of $745.61. 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 market capitalization of $160.27 billion, a price-to-earnings ratio of 40.99, a PEG ratio of 0.77 and a beta of 2.45. The business’s fifty day moving average price is $497.00 and its two-hundred day moving average price is $509.62.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. AppLovin’s quarterly revenue was up 58.9% on a year-over-year basis. On average, equities analysts anticipate that AppLovin Corporation will post 15.97 earnings per share for the current year.

About AppLovin

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.