AppLovin Corporation $APP Holdings Lowered by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft reduced its position in shares of AppLovin Corporation (NASDAQ:APP) by 72.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Revolve Wealth Partners LLC acquired a new stake in shares of AppLovin during the fourth quarter worth $294,000. Bison Wealth LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $239,000. Integrated Wealth Concepts LLC boosted its position in shares of AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares during the period. NewEdge Advisors LLC increased its stake in AppLovin by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after purchasing an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in AppLovin by 7.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after purchasing an additional 9,380 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 1.0%

APP opened at $428.69 on Wednesday. The business has a 50 day moving average price of $503.70 and a 200 day moving average price of $484.09. AppLovin Corporation has a twelve month low of $343.00 and a twelve month high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $144.01 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s revenue was up 58.9% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. Research analysts forecast that AppLovin Corporation will post 15.93 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the sale, the chief executive officer owned 2,327,684 shares in the company, valued at $1,152,157,026.32. This trade represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. JPMorgan Chase & Co. increased their target price on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Wells Fargo & Company raised their target price on AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of AppLovin in a report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $668.45.

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.