AppLovin Corporation $APP Shares Bought by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. raised its position in shares of AppLovin Corporation (NASDAQ:APP) by 1.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 87,700 shares of the company’s stock after buying an additional 1,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in AppLovin were worth $63,016,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its position in AppLovin by 2.8% in the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock valued at $504,000 after acquiring an additional 19 shares in the last quarter. Optas LLC lifted its position in shares of AppLovin by 2.5% during the third quarter. Optas LLC now owns 877 shares of the company’s stock worth $630,000 after purchasing an additional 21 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in shares of AppLovin by 19.6% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock valued at $96,000 after purchasing an additional 22 shares during the period. Avestar Capital LLC grew its holdings in shares of AppLovin by 2.1% in the second quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock valued at $391,000 after purchasing an additional 23 shares in the last quarter. Finally, Proffitt & Goodson Inc. grew its holdings in shares of AppLovin by 65.7% in the third quarter. Proffitt & Goodson Inc. now owns 58 shares of the company’s stock valued at $42,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $524.41 on Friday. The stock’s 50-day simple moving average is $634.79 and its 200-day simple moving average is $559.34. The firm has a market capitalization of $177.22 billion, a PE ratio of 63.64, a price-to-earnings-growth ratio of 1.72 and a beta of 2.50. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm posted $1.29 earnings per share. The firm’s revenue was up 68.2% on a year-over-year basis. As a group, equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the transaction, the chief technology officer owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares in the company, valued at $1,328,384,136.69. This trade represents a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 340,336 shares of company stock valued at $200,062,623 in the last ninety days. Insiders own 13.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on APP shares. Oppenheimer set a $740.00 target price on shares of AppLovin in a report on Tuesday, October 7th. Scotiabank increased their price objective on AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Zacks Research raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Wells Fargo & Company upped their price target on AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Finally, Weiss Ratings cut AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $706.76.

AppLovin Company 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.