KBC Group NV Purchases 5,223 Shares of AppLovin Corporation $APP

KBC Group NV boosted its position in shares of AppLovin Corporation (NASDAQ:APP) by 2.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 255,447 shares of the company’s stock after buying an additional 5,223 shares during the period. KBC Group NV’s holdings in AppLovin were worth $101,667,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. lifted its holdings in shares of AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after acquiring an additional 18 shares during the period. Verdence Capital Advisors LLC increased its stake in AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares during the last quarter. Finivi Inc. increased its stake in AppLovin by 3.2% in the fourth quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after acquiring an additional 22 shares during the last quarter. Alta Wealth Advisors LLC raised its position in AppLovin by 0.6% during the fourth quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock valued at $2,645,000 after purchasing an additional 24 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its stake in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a report on Tuesday, July 7th. Wells Fargo & Company boosted their price target on AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Raymond James Financial initiated coverage on AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price objective for the company. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $668.45.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. This trade represents a 7.58% 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, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 393,000 shares of company stock worth $197,297,363 over the last three months. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Performance

Shares of AppLovin stock opened at $424.54 on Monday. AppLovin Corporation has a fifty-two week low of $343.00 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a market capitalization of $142.62 billion, a P/E ratio of 36.47, a P/E/G ratio of 0.69 and a beta of 2.49. The company’s 50 day moving average price is $506.01 and its two-hundred day moving average price is $487.71.

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

About AppLovin

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.