Baader Bank Aktiengesellschaft Sells 1,964 Shares of AppLovin Co. (NASDAQ:APP)

Baader Bank Aktiengesellschaft lowered its position in shares of AppLovin Co. (NASDAQ:APP) by 45.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,400 shares of the company’s stock after selling 1,964 shares during the period. Baader Bank Aktiengesellschaft’s holdings in AppLovin were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in AppLovin by 23.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,389 shares of the company’s stock worth $4,110,000 after buying an additional 9,508 shares during the last quarter. Algert Global LLC raised its holdings in shares of AppLovin by 34.2% during the second quarter. Algert Global LLC now owns 6,736 shares of the company’s stock valued at $561,000 after purchasing an additional 1,716 shares during the last quarter. NewEdge Advisors LLC lifted its position in AppLovin by 13,831.6% during the second quarter. NewEdge Advisors LLC now owns 21,176 shares of the company’s stock valued at $1,762,000 after purchasing an additional 21,024 shares during the period. EP Wealth Advisors LLC lifted its position in AppLovin by 4.2% during the second quarter. EP Wealth Advisors LLC now owns 11,342 shares of the company’s stock valued at $944,000 after purchasing an additional 458 shares during the period. Finally, Truist Financial Corp grew its position in AppLovin by 510.9% in the 2nd quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock worth $2,305,000 after purchasing an additional 23,163 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Down 0.2 %

NASDAQ APP opened at $365.51 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64. The stock’s 50 day moving average is $340.85 and its 200 day moving average is $205.26. The stock has a market cap of $122.66 billion, a PE ratio of 110.76, a P/E/G ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. Research analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the sale, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 in the last 90 days. Insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the topic of several research analyst reports. Oppenheimer reissued an “outperform” rating and set a $480.00 price target on shares of AppLovin in a report on Tuesday, December 10th. Benchmark began coverage on AppLovin in a research report on Friday, January 10th. They issued a “buy” rating and a $375.00 target price on the stock. Macquarie boosted their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Loop Capital increased their price objective on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Piper Sandler began coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $366.29.

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.