Vontobel Holding Ltd. Purchases 10,250 Shares of AppLovin Corporation (NASDAQ:APP)

Vontobel Holding Ltd. boosted its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 93.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,211 shares of the company's stock after buying an additional 10,250 shares during the quarter. Vontobel Holding Ltd.'s holdings in AppLovin were worth $5,620,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after buying an additional 5,957,885 shares in the last quarter. Geode Capital Management LLC grew its position in AppLovin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock worth $1,462,144,000 after acquiring an additional 573,310 shares during the last quarter. Invesco Ltd. grew its position in AppLovin by 68.0% during the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after acquiring an additional 1,222,074 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in AppLovin by 457.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after purchasing an additional 2,373,885 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in AppLovin by 193.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company's stock valued at $882,469,000 after purchasing an additional 1,797,027 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Up 1.3%

Shares of AppLovin stock traded up $4.24 during trading on Friday, hitting $340.24. 3,525,836 shares of the company were exchanged, compared to its average volume of 6,220,592. 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 firm has a market capitalization of $115.13 billion, a P/E ratio of 61.42, a price-to-earnings-growth ratio of 2.04 and a beta of 2.42. The firm's fifty day moving average price is $352.35 and its 200 day moving average price is $333.89. AppLovin Corporation has a 1-year low of $60.67 and a 1-year high of $525.15.

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

Insiders Place Their Bets

In other news, 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 sale, the chief executive officer owned 2,760,363 shares of the company's stock, valued at $1,014,461,006.13. This trade represents a 3.50% 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, CTO Vasily Shikin sold 34,766 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer owned 70,889 shares of the company's stock, valued at $25,069,185.96. This represents a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. Insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

APP has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Jefferies Financial Group increased their price objective on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wedbush raised shares of AppLovin to a "strong-buy" rating in a research note on Tuesday. UBS Group upped their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Loop Capital reissued a "buy" rating and issued a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $438.85.

AppLovin Company Profile

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.