AppLovin Corporation $APP Shares Sold by ING Groep NV

ING Groep NV decreased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 97.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of APP. Capital World Investors grew its position in shares of AppLovin by 5.4% in the 4th quarter. Capital World Investors now owns 2,778,549 shares of the company’s stock worth $1,872,242,000 after acquiring an additional 143,361 shares in the last quarter. Capital Research Global Investors raised its position in shares of AppLovin by 16.8% during the 4th quarter. Capital Research Global Investors now owns 1,209,631 shares of the company’s stock valued at $815,105,000 after acquiring an additional 174,338 shares in the last quarter. Capital International Investors raised its position in shares of AppLovin by 20.2% during the 4th quarter. Capital International Investors now owns 981,214 shares of the company’s stock valued at $661,225,000 after acquiring an additional 164,653 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in AppLovin by 7.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 153,800 shares of the company’s stock worth $95,451,000 after purchasing an additional 11,122 shares during the last quarter. Finally, Telemark Asset Management LLC bought a new position in AppLovin during the fourth quarter worth $13,476,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

More 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

Analyst Upgrades and Downgrades

APP has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Scotiabank boosted their price objective on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of AppLovin in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. One 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 company. Based on data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $669.62.

AppLovin Stock Down 5.3%

APP stock opened at $492.98 on Thursday. The stock has a market cap of $165.61 billion, a PE ratio of 42.35, a price-to-earnings-growth ratio of 0.85 and a beta of 2.45. The firm’s 50-day simple moving average is $479.09 and its 200 day simple moving average is $521.31. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week 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 earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm 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 business posted $1.67 EPS. AppLovin’s revenue was up 58.9% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Corporation will post 15.86 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction 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 owned 177,450 shares in the company, valued at approximately $106,470,000. The trade was a 4.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 306,668 shares of company stock worth $145,923,868. 13.66% of the stock is owned by company insiders.

AppLovin Profile

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.