DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Takes $17.80 Million Position in AppLovin Co. (NASDAQ:APP)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 54,977 shares of the company's stock, valued at approximately $17,803,000.

Several other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares in the last quarter. Diversified Trust Co lifted its stake in AppLovin by 27.1% in the 4th quarter. Diversified Trust Co now owns 5,034 shares of the company's stock valued at $1,630,000 after buying an additional 1,072 shares in the last quarter. Chicago Capital LLC acquired a new stake in AppLovin during the 4th quarter valued at $323,000. Graypoint LLC purchased a new position in AppLovin during the fourth quarter worth $369,000. Finally, Brookstone Capital Management acquired a new position in shares of AppLovin in the fourth quarter worth $290,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

APP has been the topic of a number of analyst reports. The Goldman Sachs Group decreased their price objective on AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lifted their price target on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday. FBN Securities started coverage on shares of AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective on the stock. Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Oppenheimer reissued an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and an average price target of $428.85.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $339.51 on Friday. The business's 50-day simple moving average is $275.52 and its 200 day simple moving average is $309.36. The company has a market cap of $115.42 billion, a P/E ratio of 74.78, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the company posted $0.67 earnings per share. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. On average, sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

About AppLovin

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.

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