AppLovin Corporation $APP Shares Sold by ING Groep NV

ING Groep NV decreased its position in shares of AppLovin Corporation (NASDAQ:APP) by 97.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,268 shares of the company’s stock after selling 41,561 shares during the period. ING Groep NV’s holdings in AppLovin were worth $854,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. boosted its stake in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in shares of AppLovin in the 4th quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at $32,000. Finally, Graney & King LLC bought a new position in AppLovin during the third quarter valued at about $36,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on APP. Jefferies Financial Group dropped their price target on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. KeyCorp set a $775.00 target price on shares of AppLovin in a report on Wednesday. Piper Sandler reissued an “overweight” rating on shares of AppLovin in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $669.62.

Insider Buying and Selling at AppLovin

In related news, Director Maynard G. Webb, Jr. sold 3,076 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $582.04, for a total value of $1,790,355.04. Following the completion of the sale, the director owned 123,520 shares in the company, valued at approximately $71,893,580.80. This represents a 2.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. This represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 306,668 shares of company stock valued at $145,923,868 over the last three months. 13.66% of the stock is owned by insiders.

AppLovin Trading Down 5.3%

NASDAQ:APP opened at $492.98 on Thursday. The stock has a fifty day simple moving average of $479.09 and a 200 day simple moving average of $521.31. The firm has a market capitalization of $165.61 billion, a price-to-earnings ratio of 42.35, a price-to-earnings-growth ratio of 0.85 and a beta of 2.45. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 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 the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company earned $1.67 EPS. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. Sell-side analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Citi added AppLovin to its “Upside 90-Day Catalyst Watch,” suggesting a near-term catalyst could help support the stock. Citi Adds “Upside 90-Day Catalyst Watch” on AppLovin Corporation (APP)
• Positive Sentiment: Analyst commentary remains constructive, with recent notes reaffirming bullish ratings and one article highlighting AppLovin’s recent gains and expected EPS growth of more than 40% annually over the next five years. AppLovin Corporation (APP) Up More Than 12% Over the Past Month, Here’s Why it is an Unstoppable Growth Stock

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.