DekaBank Deutsche Girozentrale Sells 2,327 Shares of AppLovin Corporation (NASDAQ:APP)

DekaBank Deutsche Girozentrale lessened its holdings in AppLovin Corporation (NASDAQ:APP) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,222 shares of the company’s stock after selling 2,327 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in AppLovin were worth $32,411,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin during the fourth quarter worth about $25,000. Tucker Asset Management LLC acquired a new position in AppLovin during the fourth quarter valued at approximately $28,000. Atala Financial Inc bought a new stake in AppLovin in the first quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new stake in AppLovin in the first quarter valued at approximately $29,000. Finally, Alpine Bank Wealth Management bought a new stake in AppLovin in the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Scotiabank raised shares of AppLovin to a “strong-buy” rating in a research note on Tuesday. UBS Group upped their target price on shares of AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a research note on Thursday, May 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $438.43.

Insider Transactions at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director owned 221,209 shares in the company, valued at $82,867,103.49. This trade represents a 64.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 100,000 shares of AppLovin stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $367.51, for a total value of $36,751,000.00. Following the sale, the chief executive officer directly owned 2,760,363 shares of the company’s stock, valued at $1,014,461,006.13. This represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock worth $455,062,980 over the last three months. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $352.74 on Thursday. The stock has a market cap of $119.36 billion, a P/E ratio of 63.67, a P/E/G ratio of 2.05 and a beta of 2.42. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The company has a fifty day moving average price of $356.34 and a two-hundred day moving average price of $334.37. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. AppLovin’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 EPS. As a group, equities analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.