Deutsche Bank AG Sells 34,035 Shares of AppLovin Corporation $APP

Deutsche Bank AG lowered its stake in shares of AppLovin Corporation (NASDAQ:APP) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 863,098 shares of the company’s stock after selling 34,035 shares during the quarter. Deutsche Bank AG owned about 0.26% of AppLovin worth $581,573,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new stake in AppLovin during the fourth quarter worth approximately $27,000. Washington Trust Advisors Inc. boosted its position 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 period. Laurel Wealth Advisors LLC bought a new stake in AppLovin during the fourth quarter worth approximately $32,000. CBIZ Investment Advisory Services LLC boosted its position in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the period. Finally, Graney & King LLC bought a new stake in AppLovin during the third quarter worth approximately $36,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 7.6%

Shares of APP stock opened at $520.84 on Wednesday. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The firm has a market cap of $174.97 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 0.92 and a beta of 2.45. The stock has a 50 day moving average of $476.67 and a 200-day moving average of $521.50. 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 issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $1.67 earnings per share. The company’s quarterly revenue was up 58.9% compared to the same quarter last year. On average, equities analysts predict that AppLovin Corporation will post 15.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Scotiabank upped their target price on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a research report on Tuesday. Oppenheimer decreased their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Arete Research set a $340.00 price target on AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 40,704 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the completion of the transaction, the chief executive officer directly owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the transaction, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. The trade was a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 347,372 shares of company stock valued at $164,641,603 in the last ninety days. 13.66% of the stock is currently owned by insiders.

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.