MASTERINVEST Kapitalanlage GmbH Has $1.82 Million Position in AppLovin Corporation $APP

MASTERINVEST Kapitalanlage GmbH raised its stake in AppLovin Corporation (NASDAQ:APP) by 66.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,570 shares of the company’s stock after buying an additional 1,829 shares during the period. MASTERINVEST Kapitalanlage GmbH’s holdings in AppLovin were worth $1,819,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of AppLovin by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after acquiring an additional 166,117 shares during the period. State Street Corp increased its position in AppLovin by 0.4% during the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after purchasing an additional 52,377 shares during the period. Geode Capital Management LLC increased its position in AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after purchasing an additional 448,005 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in AppLovin by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock worth $4,103,386,000 after purchasing an additional 212,349 shares during the last quarter. Finally, Morgan Stanley raised its holdings in AppLovin by 10.7% during the 4th quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock worth $3,747,551,000 after purchasing an additional 538,806 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APP. Wells Fargo & Company boosted their price target on shares of AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. Argus initiated coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price on the stock. Finally, KeyCorp set a $775.00 price target on shares of AppLovin in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

AppLovin Stock Performance

Shares of APP stock opened at $452.73 on Thursday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a fifty day simple moving average of $508.18 and a two-hundred day simple moving average of $491.61. AppLovin Corporation has a 12 month low of $343.00 and a 12 month high of $745.61. The firm has a market capitalization of $152.09 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 0.73 and a beta of 2.49.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same period last year, the firm earned $1.67 earnings per share. Analysts forecast that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Maynard G. Webb, Jr. sold 3,076 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the sale, the director directly owned 120,444 shares of the company’s stock, valued at approximately $62,786,252.76. The trade was a 2.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 393,000 shares of company stock worth $197,297,363 over the last ninety days. Insiders own 13.66% of the company’s 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.