Baader Bank Aktiengesellschaft Has $453,000 Stock Position in AppLovin Corporation $APP

Baader Bank Aktiengesellschaft reduced its position in shares of AppLovin Corporation (NASDAQ:APP) by 72.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,138 shares of the company’s stock after selling 3,028 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in AppLovin were worth $453,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC bought a new stake in shares of AppLovin during the first quarter worth approximately $25,000. Washington Trust Advisors Inc. boosted its stake in AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in AppLovin during the 4th quarter worth $27,000. Laurel Wealth Advisors LLC acquired a new stake in AppLovin during the 4th quarter worth $32,000. Finally, First Pacific Financial bought a new stake in shares of AppLovin during the 1st quarter valued at $33,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APP has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of AppLovin in a research report on Thursday, May 28th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. Wedbush reiterated an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Finally, KeyCorp set a $775.00 price objective on shares of AppLovin in a research note on Wednesday, June 10th. Two 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $668.45.

AppLovin Stock Up 1.0%

APP stock opened at $428.69 on Wednesday. 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 $144.01 billion, a P/E ratio of 36.83, a P/E/G ratio of 0.69 and a beta of 2.49. The business has a 50-day moving average of $503.70 and a 200-day moving average of $484.09. AppLovin Corporation has a fifty-two week low of $343.00 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $1.67 earnings per share. The firm’s revenue was up 58.9% compared to the same quarter last year. On average, sell-side analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is owned by company insiders.

AppLovin Company 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.