AppLovin Corporation $APP Shares Acquired by ABN Amro Investment Solutions

ABN Amro Investment Solutions boosted its stake in AppLovin Corporation (NASDAQ:APP) by 13.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 12,781 shares of the company’s stock after acquiring an additional 1,563 shares during the period. ABN Amro Investment Solutions’ holdings in AppLovin were worth $5,087,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of APP. Vanguard Group Inc. grew its holdings 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 in the last quarter. State Street Corp grew its position in shares of AppLovin by 0.4% in the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after purchasing an additional 52,377 shares during the period. Geode Capital Management LLC increased its stake in AppLovin by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after purchasing an additional 448,005 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in AppLovin by 3.6% in 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 buying an additional 212,349 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of AppLovin by 10.7% during the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock worth $3,747,551,000 after acquiring an additional 538,806 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $412.48 on Thursday. AppLovin Corporation has a 52 week low of $349.21 and a 52 week high of $745.61. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market cap of $138.57 billion, a P/E ratio of 35.44, a price-to-earnings-growth ratio of 0.70 and a beta of 2.49. The stock has a 50 day moving average of $502.88 and a 200-day moving average of $482.25.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.77 billion. During the same period in the prior year, the business earned $1.67 EPS. The firm’s revenue was up 58.9% on a year-over-year basis. On average, analysts expect that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on APP shares. Argus initiated coverage on AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price on the stock. Raymond James Financial began coverage on AppLovin in a report on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. UBS Group dropped their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, KeyCorp set a $775.00 price target on AppLovin in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $668.45.

Insider Activity

In related news, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 393,000 shares of company stock worth $197,297,363 over the last three months. Insiders own 12.81% of the company’s stock.

AppLovin 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.