ASR Vermogensbeheer N.V. Raises Holdings in AppLovin Corporation $APP

ASR Vermogensbeheer N.V. boosted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 25.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kingswood Wealth Advisors LLC lifted its stake in shares of AppLovin by 5.1% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock worth $445,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised 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 worth $45,675,000 after purchasing an additional 66,453 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of AppLovin by 30.6% during 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 during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock valued at $939,000 after buying an additional 119 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of AppLovin by 15.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after buying an additional 6,104 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $683.64 on Friday. The business has a fifty day moving average of $508.20 and a 200 day moving average of $388.02. AppLovin Corporation has a 1 year low of $130.54 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a market capitalization of $231.24 billion, a price-to-earnings ratio of 97.11, a price-to-earnings-growth ratio of 3.86 and a beta of 2.53.

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

Insider Activity

In related news, Director Eduardo Vivas sold 125,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares in the company, valued at $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $502.23, for a total value of $17,578,050.00. Following the sale, the insider directly owned 269,955 shares in the company, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock valued at $514,863,333 over the last quarter. Insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. Wedbush increased their target price on shares of AppLovin from $620.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Oppenheimer increased their price objective on AppLovin from $500.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Wells Fargo & Company raised their price objective on AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Zacks Research upgraded AppLovin to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Morgan Stanley increased their price target on AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $578.86.

AppLovin 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.