Achmea Investment Management B.V. Purchases 10,934 Shares of AppLovin Corporation (NASDAQ:APP)

Achmea Investment Management B.V. grew its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 18.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,750 shares of the company's stock after purchasing an additional 10,934 shares during the quarter. Achmea Investment Management B.V.'s holdings in AppLovin were worth $18,216,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of APP. Paragon Capital Management Inc. bought a new stake in AppLovin during the first quarter valued at $319,000. Bartlett & CO. Wealth Management LLC acquired a new stake in AppLovin during the first quarter worth approximately $29,000. Diversified Trust Co increased its holdings in AppLovin by 1.2% in the first quarter. Diversified Trust Co now owns 5,093 shares of the company's stock worth $1,349,000 after purchasing an additional 59 shares in the last quarter. Atala Financial Inc acquired a new position in AppLovin in the first quarter valued at approximately $26,000. Finally, Western Financial Corp CA boosted its holdings in shares of AppLovin by 395.2% during the 1st quarter. Western Financial Corp CA now owns 8,141 shares of the company's stock worth $2,157,000 after buying an additional 6,497 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APP has been the subject of several recent research reports. UBS Group boosted their price objective on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. The Goldman Sachs Group raised their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Thursday. Oppenheimer restated an "outperform" rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Finally, Benchmark reaffirmed a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus target price of $438.85.

Insider Transactions at AppLovin

In other news, Director Craig Scott Billings sold 12,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $353.12, for a total transaction of $4,237,440.00. Following the transaction, the director now owns 2,987 shares in the company, valued at $1,054,769.44. This represents a 80.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the transaction, the director now directly owns 221,209 shares of the company's stock, valued at $82,867,103.49. The trade was a 64.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock worth $455,062,980 in the last three months. Corporate insiders own 13.66% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $347.45 on Friday. The firm has a market cap of $117.57 billion, a P/E ratio of 62.72, a PEG ratio of 1.97 and a beta of 2.53. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. The company has a 50 day moving average of $341.63 and a 200 day moving average of $333.58.

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