DJE Kapital AG lifted its holdings in AppLovin Corporation (NASDAQ:APP – Free Report) by 1,820.0% during the first quarter, Holdings Channel reports. The institutional investor owned 19,200 shares of the company’s stock after acquiring an additional 18,200 shares during the quarter. DJE Kapital AG’s holdings in AppLovin were worth $7,269,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 166,117 shares during the period. State Street Corp lifted its holdings in shares of AppLovin by 0.4% during the fourth 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of AppLovin by 6.7% during the fourth 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 last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after purchasing an additional 212,349 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of AppLovin by 10.7% in 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 in the last quarter. 41.85% of the stock is currently owned by institutional investors.
AppLovin Price Performance
Shares of NASDAQ:APP opened at $424.60 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $142.64 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49. The business has a 50-day simple moving average of $504.94 and a two-hundred day simple moving average of $485.82. AppLovin Corporation has a fifty-two week low of $343.00 and a fifty-two week high of $745.61.
Analyst Ratings Changes
APP has been the topic of several recent research reports. Argus initiated coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target on the stock. Wells Fargo & Company lifted their price objective on AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Weiss Ratings raised AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Finally, Raymond James Financial assumed coverage on AppLovin in a report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $668.45.
Check Out Our Latest Stock Analysis on AppLovin
Insider Activity at AppLovin
In related news, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer owned 177,450 shares in the company, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred on Thursday, June 4th. The stock was 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 approximately $138,055,090.29. This trade represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 393,000 shares of company stock valued at $197,297,363 over the last quarter. 12.81% of the stock is owned by company insiders.
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.
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