ABN AMRO Bank N.V. Sells 2,540 Shares of AppLovin Corporation $APP

Key Points

• ABN AMRO Bank N.V. cut its AppLovin stake by 46.5% in Q1, selling 2,540 shares and leaving it with 2,920 shares worth about $1.16 million.
• Insiders have been selling too: CEO Arash Adam Foroughi and Director Maynard G. Webb, Jr. both reduced their holdings, and insiders sold 389,924 shares in the last quarter overall.
• AppLovin’s latest quarterly results were strong, with EPS of $3.56 and revenue of $1.84 billion, both beating estimates, while analysts remain broadly positive with a consensus Moderate Buy rating and a $669.62 average price target.

ABN AMRO Bank N.V. lessened its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 46.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,920 shares of the company's stock after selling 2,540 shares during the period. ABN AMRO Bank N.V.'s holdings in AppLovin were worth $1,161,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in APP. Redhawk Wealth Advisors Inc. increased its stake in shares of AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company's stock valued at $431,000 after buying an additional 18 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company's stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Claro Advisors LLC raised its stake in shares of AppLovin by 3.2% in the third quarter. Claro Advisors LLC now owns 647 shares of the company's stock worth $465,000 after acquiring an additional 20 shares during the last quarter. Strategic Advocates LLC lifted its position in shares of AppLovin by 0.8% during the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company's stock worth $1,851,000 after purchasing an additional 21 shares in the last quarter. Finally, Finivi Inc. lifted its position in shares of AppLovin by 3.2% during the fourth quarter. Finivi Inc. now owns 711 shares of the company's stock worth $479,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer owned 2,327,684 shares of the company's stock, valued at $1,152,157,026.32. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $582.04, for a total value of $1,790,355.04. Following the sale, the director directly owned 123,520 shares in the company, valued at approximately $71,893,580.80. This represents a 2.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 389,924 shares of company stock valued at $195,693,875. 13.66% of the stock is owned by company insiders.

AppLovin Price Performance

NASDAQ:APP opened at $477.08 on Monday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12-month low of $325.58 and a 12-month high of $745.61. The stock's fifty day simple moving average is $497.00 and its 200-day simple moving average is $509.62. The firm has a market capitalization of $160.27 billion, a P/E ratio of 40.99, a P/E/G ratio of 0.77 and a beta of 2.45.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm's revenue was up 58.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.67 earnings per share. Equities research analysts expect that AppLovin Corporation will post 15.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BTIG Research reissued a "buy" rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Argus initiated coverage on AppLovin in a research note on Tuesday, April 14th. They issued a "buy" rating and a $520.00 target price for the company. Weiss Ratings downgraded AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $669.62.

AppLovin Company Profile

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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