ABN Amro Investment Solutions Buys 2,451 Shares of AppLovin Corporation $APP

Key Points

• ABN Amro Investment Solutions increased its AppLovin stake by 28% in the fourth quarter, buying 2,451 more shares and bringing its total holding to 11,218 shares worth about $7.56 million.
• AppLovin delivered a strong quarterly report, with EPS of $3.56 and revenue of $1.84 billion, both ahead of Wall Street expectations. Revenue also jumped 58.9% year over year.
• Institutional ownership remains high, with several major funds increasing positions, while analysts stay broadly bullish: the stock has a Moderate Buy consensus and an average price target of $664.35.

ABN Amro Investment Solutions raised its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 28.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,218 shares of the company's stock after purchasing an additional 2,451 shares during the period. ABN Amro Investment Solutions' holdings in AppLovin were worth $7,559,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in AppLovin by 0.7% during the 4th 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 last quarter. State Street Corp raised its position in shares of AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company's stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares in the last quarter. Invesco Ltd. raised its position in shares of AppLovin by 9.4% in the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company's stock worth $3,084,514,000 after acquiring an additional 367,083 shares in the last quarter. Jennison Associates LLC raised its position in shares of AppLovin by 55.2% in the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company's stock worth $2,792,355,000 after acquiring an additional 1,381,970 shares in the last quarter. Finally, Kensico Capital Management Corp raised its position in shares of AppLovin by 3.1% in the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company's stock worth $2,240,767,000 after acquiring an additional 95,000 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

Shares of APP opened at $485.89 on Friday. The company has a market cap of $163.23 billion, a PE ratio of 41.74, a P/E/G ratio of 0.78 and a beta of 2.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The stock has a 50-day moving average of $445.90 and a 200-day moving average of $524.25.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (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 company's quarterly revenue was up 58.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.67 EPS. On average, equities research analysts predict that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the sale, the director owned 6,969,382 shares of the company's stock, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 50,000 shares of AppLovin stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the sale, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 365,244 shares of company stock worth $169,584,607 in the last 90 days. Insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BTIG Research reissued a "buy" rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Zacks Research lowered AppLovin from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Citigroup lowered their price objective on AppLovin from $820.00 to $710.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Benchmark reissued a "buy" rating on shares of AppLovin in a research report on Friday, March 6th. Finally, Piper Sandler lifted their price objective on AppLovin from $650.00 to $665.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given 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 price target of $664.35.

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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Corporation (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.