ASR Vermogensbeheer N.V. Increases Stock Position in AppLovin Corporation $APP

ASR Vermogensbeheer N.V. raised its position in AppLovin Corporation (NASDAQ:APP) by 25.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,895 shares of the company’s stock after buying an additional 4,490 shares during the period. ASR Vermogensbeheer N.V.’s holdings in AppLovin were worth $7,664,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Kingswood Wealth Advisors LLC increased its stake in shares of AppLovin by 5.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock valued at $445,000 after purchasing an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in AppLovin by 62.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock valued at $45,675,000 after purchasing an additional 66,453 shares during the period. Park Avenue Securities LLC increased its position in shares of AppLovin by 30.6% in the second quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock valued at $7,313,000 after buying an additional 4,890 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of AppLovin by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock worth $939,000 after buying an additional 119 shares during the period. Finally, IFM Investors Pty Ltd lifted its position in shares of AppLovin by 15.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock valued at $15,827,000 after buying an additional 6,104 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Benchmark boosted their target price on shares of AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. BTIG Research upped their price target on shares of AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Phillip Securities upgraded AppLovin to a “moderate buy” rating in a report on Monday. Finally, Wedbush increased their target price on AppLovin from $620.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $578.86.

AppLovin Stock Down 2.9%

APP stock opened at $683.64 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a 50-day moving average of $508.20 and a two-hundred day moving average of $388.02. AppLovin Corporation has a 12 month low of $130.54 and a 12 month high of $745.61. The company has a market cap of $231.24 billion, a price-to-earnings ratio of 97.11, a PEG ratio of 3.86 and a beta of 2.53.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $0.89 EPS. The business’s revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Dawson Alyssa Harvey sold 350 shares of AppLovin stock in a transaction on Friday, September 5th. The stock was sold at an average price of $487.97, for a total transaction of $170,789.50. Following the transaction, the director owned 3,150 shares in the company, valued at $1,537,105.50. The trade was a 10.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 26,200 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the transaction, the chief executive officer directly owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock valued at $514,863,333 over the last 90 days. Insiders own 13.66% of the company’s stock.

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.