DekaBank Deutsche Girozentrale Purchases 37,599 Shares of AppLovin Co. (NASDAQ:APP)

DekaBank Deutsche Girozentrale grew its position in shares of AppLovin Co. (NASDAQ:APP) by 29.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,821 shares of the company’s stock after acquiring an additional 37,599 shares during the period. DekaBank Deutsche Girozentrale owned about 0.05% of AppLovin worth $13,744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Precision Wealth Strategies LLC purchased a new position in AppLovin during the 4th quarter valued at about $324,000. Charles Schwab Investment Management Inc. increased its stake in shares of AppLovin by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,695 shares of the company’s stock valued at $40,715,000 after buying an additional 31,773 shares during the period. QRG Capital Management Inc. bought a new position in shares of AppLovin during the fourth quarter valued at approximately $290,000. Massachusetts Financial Services Co. MA bought a new position in shares of AppLovin during the fourth quarter valued at approximately $3,947,000. Finally, Norges Bank purchased a new stake in AppLovin in the fourth quarter worth $43,973,000. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on APP shares. Wedbush decreased their price objective on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America raised their price objective on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Benchmark raised their target price on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group lifted their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $91.78.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 47,001 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $85.06, for a total value of $3,997,905.06. Following the transaction, the insider now directly owns 390,615 shares in the company, valued at $33,225,711.90. The disclosure for this sale can be found here. Insiders have sold 775,934 shares of company stock valued at $65,805,022 over the last ninety days. Insiders own 14.69% of the company’s stock.

AppLovin Stock Up 6.6 %

Shares of AppLovin stock opened at $112.58 on Monday. The company has a 50-day simple moving average of $84.08 and a two-hundred day simple moving average of $78.38. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $112.88. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $37.04 billion, a PE ratio of 67.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS. On average, analysts anticipate that AppLovin Co. will post 3.46 EPS for the current fiscal 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.