Commerzbank Aktiengesellschaft FI Acquires New Position in AppLovin Corporation (NASDAQ:APP)

Commerzbank Aktiengesellschaft FI purchased a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,072 shares of the company's stock, valued at approximately $285,000.

Other hedge funds have also bought and sold shares of the company. HighPoint Advisor Group LLC raised its position in shares of AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after buying an additional 31 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after buying an additional 33 shares in the last quarter. Forum Financial Management LP raised its position in shares of AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after buying an additional 33 shares in the last quarter. Argentarii LLC raised its position in shares of AppLovin by 1.5% during the 1st quarter. Argentarii LLC now owns 2,638 shares of the company's stock valued at $699,000 after buying an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of AppLovin by 13.4% during the 1st quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $97,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on APP shares. Benchmark reissued a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. Wall Street Zen lowered shares of AppLovin from a "buy" rating to a "hold" rating in a research report on Friday. Scotiabank raised shares of AppLovin to a "strong-buy" rating in a research report on Tuesday, July 8th. Oppenheimer reissued an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Finally, Loop Capital reissued a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $438.43.

AppLovin Stock Performance

Shares of NASDAQ:APP traded up $0.68 on Friday, hitting $364.46. 4,818,310 shares of the company were exchanged, compared to its average volume of 6,289,545. AppLovin Corporation has a 1-year low of $60.67 and a 1-year high of $525.15. The stock's 50 day moving average price is $362.51 and its 200 day moving average price is $335.17. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $123.33 billion, a P/E ratio of 65.79, a price-to-earnings-growth ratio of 2.16 and a beta of 2.42.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. Sell-side analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 100,000 shares of AppLovin stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total value of $36,751,000.00. Following the completion of the transaction, the chief executive officer owned 2,760,363 shares of the company's stock, valued at approximately $1,014,461,006.13. The trade was a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 34,766 shares of AppLovin stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the completion of the transaction, the chief technology officer directly owned 70,889 shares of the company's stock, valued at $25,069,185.96. The trade was a 32.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Company insiders own 13.66% of the company's stock.

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.