Commerzbank Aktiengesellschaft FI Has $1.62 Million Position in AppLovin Corporation $APP

Commerzbank Aktiengesellschaft FI raised its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 111.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,252 shares of the company’s stock after purchasing an additional 1,188 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in AppLovin were worth $1,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APP. Revolve Wealth Partners LLC bought a new position in shares of AppLovin in the fourth quarter valued at about $294,000. Bison Wealth LLC bought a new position in AppLovin in the 4th quarter valued at about $239,000. Integrated Wealth Concepts LLC lifted its position in AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after acquiring an additional 621 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of AppLovin by 80.4% during the second quarter. TD Private Client Wealth LLC now owns 1,425 shares of the company’s stock worth $499,000 after acquiring an additional 635 shares during the period. Finally, ST Germain D J Co. Inc. bought a new stake in shares of AppLovin during the second quarter worth approximately $134,000. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BTIG Research reiterated a “buy” rating and set a $771.00 target price on shares of AppLovin in a research note on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft set a $705.00 price objective on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Wedbush boosted their target price on shares of AppLovin from $745.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research note on Tuesday, January 20th. Finally, Oppenheimer set a $740.00 price objective on shares of AppLovin in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $706.76.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 30,888 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer directly owned 2,553,161 shares in the company, valued at approximately $1,328,384,136.69. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 150,000 shares of AppLovin stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the sale, the director directly owned 7,133,292 shares in the company, valued at $4,643,131,095.72. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 340,336 shares of company stock worth $200,062,623 over the last 90 days. Insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $524.41 on Monday. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The stock has a market capitalization of $177.22 billion, a price-to-earnings ratio of 63.64, a price-to-earnings-growth ratio of 1.73 and a beta of 2.50. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The company’s 50 day simple moving average is $634.79 and its 200 day simple moving average is $562.31.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $1.29 EPS. The company’s revenue was up 68.2% compared to the same quarter last year. As a group, research analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

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.