Siemens Fonds Invest GmbH Purchases 1,519 Shares of AppLovin Corporation $APP

Siemens Fonds Invest GmbH boosted its position in shares of AppLovin Corporation (NASDAQ:APPFree Report) by 27.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,052 shares of the company’s stock after purchasing an additional 1,519 shares during the period. Siemens Fonds Invest GmbH’s holdings in AppLovin were worth $4,892,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in APP. Revolve Wealth Partners LLC bought a new position in AppLovin during the 4th quarter valued at about $294,000. Bison Wealth LLC bought a new position in AppLovin during the 4th quarter valued at about $239,000. Integrated Wealth Concepts LLC lifted its holdings in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after purchasing an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after purchasing an additional 9,380 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

Shares of APP stock opened at $515.20 on Wednesday. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The firm’s 50 day moving average is $488.14 and its 200-day moving average is $519.82. The firm has a market capitalization of $173.08 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 0.85 and a beta of 2.45. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APPGet Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business earned $1.67 earnings per share. AppLovin’s quarterly revenue was up 58.9% on a year-over-year basis. Sell-side analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday, June 10th. BTIG Research reissued a “buy” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Argus initiated coverage on shares of AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. Finally, Benchmark reiterated a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

Check Out Our Latest Analysis on APP

More AppLovin News

Here are the key news stories impacting AppLovin this week:

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the sale, the chief technology officer directly owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,014 shares of company stock valued at $113,073,400 over the last ninety days. Company insiders own 13.66% of the company’s stock.

About AppLovin

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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