3,035 Shares in AppLovin Corporation (NASDAQ:APP) Acquired by Banco Santander S.A.

Banco Santander S.A. purchased a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,035 shares of the company's stock, valued at approximately $804,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin during the fourth quarter worth approximately $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin in the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin in the first quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin in the first quarter worth $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of AppLovin in the first quarter worth $29,000. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Trading Up 4.2%

NASDAQ APP opened at $395.01 on Tuesday. AppLovin Corporation has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market capitalization of $133.67 billion, a price-to-earnings ratio of 71.30, a price-to-earnings-growth ratio of 2.26 and a beta of 2.43. The company's fifty day moving average price is $364.27 and its two-hundred day moving average price is $337.95.

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, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm posted $0.67 EPS. The firm's revenue was up 40.3% compared to the same quarter last year. As a group, research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. 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 raised shares of AppLovin from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Piper Sandler reissued an "overweight" rating and issued a $470.00 price objective (up previously from $455.00) on shares of AppLovin in a research report on Thursday, June 26th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $447.57.

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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