Allianz SE Takes $1.07 Million Position in AppLovin Corporation (NASDAQ:APP)

Key Points

• Allianz SE has initiated a new position in AppLovin Corporation, acquiring 4,030 shares valued at approximately $1,068,000 during the first quarter of the year.
• AppLovin reported a net margin of 37.38% and a year-over-year revenue growth of 40.3%, with quarterly earnings surpassing analysts' expectations.
• Institutional investors now own 41.85% of AppLovin's stock, reflecting increased interest, while numerous analysts have issued a "Moderate Buy" rating with an average price target of $447.57.

Allianz SE purchased a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,030 shares of the company's stock, valued at approximately $1,068,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APP. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin during the 4th quarter worth $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin during the first quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin during the first quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin during the first quarter worth about $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in AppLovin during the 1st quarter worth approximately $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APP has been the subject of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and set a $470.00 price objective (up from $455.00) on shares of AppLovin in a research report on Thursday, June 26th. Morgan Stanley raised their target price on shares of AppLovin from $420.00 to $460.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Jefferies Financial Group raised their target price on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. HSBC set a $436.00 price objective on shares of AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, UBS Group raised their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and an average target price of $447.57.

AppLovin Price Performance

APP stock traded down $6.33 during trading on Tuesday, hitting $388.69. The stock had a trading volume of 2,045,679 shares, compared to its average volume of 7,051,908. The company's 50 day moving average price is $364.27 and its two-hundred day moving average price is $337.95. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market cap of $131.53 billion, a price-to-earnings ratio of 70.11, a price-to-earnings-growth ratio of 2.26 and a beta of 2.43. AppLovin Corporation has a 1-year low of $66.16 and a 1-year high of $525.15.

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

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 400,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the sale, the director directly owned 221,209 shares in the company, valued at $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 171,420 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $373.77, for a total transaction of $64,071,653.40. Following the completion of the sale, the director directly owned 221,209 shares of the company's stock, valued at $82,681,287.93. The trade was a 43.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,212,968 shares of company stock worth $455,062,980. 13.66% of the stock is currently owned by company insiders.

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.