ABN Amro Investment Solutions Increases Stock Position in AppLovin Corporation $APP

ABN Amro Investment Solutions lifted its holdings in AppLovin Corporation (NASDAQ:APP) by 13.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,781 shares of the company’s stock after purchasing an additional 1,563 shares during the period. ABN Amro Investment Solutions’ holdings in AppLovin were worth $5,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. PNC Financial Services Group Inc. raised its position in shares of AppLovin by 5.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 39,804 shares of the company’s stock worth $15,842,000 after purchasing an additional 2,225 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new stake in shares of AppLovin during the first quarter worth $44,000. DJE Kapital AG grew its holdings in shares of AppLovin by 1,820.0% during the first quarter. DJE Kapital AG now owns 19,200 shares of the company’s stock worth $7,269,000 after buying an additional 18,200 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of AppLovin in the first quarter valued at about $25,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in AppLovin by 7.9% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 3,028 shares of the company’s stock worth $1,205,000 after acquiring an additional 222 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on APP shares. Wells Fargo & Company boosted their target price on AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Citigroup restated a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. Finally, BTIG Research reiterated a “buy” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $668.45.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction on Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the transaction, the director owned 120,444 shares in the company, valued at approximately $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 393,000 shares of company stock worth $197,297,363. Corporate insiders own 12.81% of the company’s stock.

AppLovin Stock Down 3.8%

Shares of NASDAQ:APP opened at $412.48 on Thursday. AppLovin Corporation has a fifty-two week low of $349.21 and a fifty-two week high of $745.61. The firm’s 50 day moving average price is $502.88 and its 200 day moving average price is $482.25. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market cap of $138.57 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 0.70 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, equities research analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

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.