APG Asset Management N.V. Makes New Investment in AppLovin Corporation $APP

APG Asset Management N.V. acquired a new position in AppLovin Corporation (NASDAQ:APP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,900 shares of the company’s stock, valued at approximately $4,958,000.

Other large investors also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA purchased a new position in shares of AppLovin during the second quarter worth about $26,000. Chilton Capital Management LLC bought a new stake in AppLovin during the third quarter valued at approximately $29,000. Activest Wealth Management grew its stake in AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after buying an additional 38 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of AppLovin in the 2nd quarter worth $33,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of AppLovin during the 3rd quarter worth $33,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 1.4%

Shares of APP stock opened at $438.89 on Wednesday. The business has a 50-day moving average of $527.66 and a 200 day moving average of $572.35. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. 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 $148.03 billion, a PE ratio of 45.01, a P/E/G ratio of 0.89 and a beta of 2.51.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. The business’s quarterly revenue was up 66.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the sale, the director owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This trade represents a 5.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the transaction, the insider directly owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group reduced their target price on AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. BTIG Research cut their price objective on AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Royal Bank Of Canada reiterated an “outperform” rating and set a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Weiss Ratings raised AppLovin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, Citigroup dropped their target price on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Twenty-one equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $658.14.

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.