DekaBank Deutsche Girozentrale Has $32.41 Million Stock Position in AppLovin Corporation (NASDAQ:APP)

DekaBank Deutsche Girozentrale cut its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,222 shares of the company's stock after selling 2,327 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in AppLovin were worth $32,411,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of APP. Kingswood Wealth Advisors LLC raised its holdings in shares of AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after acquiring an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of AppLovin by 62.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after acquiring an additional 66,453 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of AppLovin by 3.5% in the first quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock worth $939,000 after acquiring an additional 119 shares during the last quarter. Peak Retirement Planning Inc. acquired a new position in shares of AppLovin in the fourth quarter worth $969,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of AppLovin by 3.0% in the first quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock worth $1,106,000 after acquiring an additional 121 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on APP shares. UBS Group boosted their price target on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. FBN Securities initiated coverage on AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. Benchmark reiterated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Oppenheimer reissued an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Finally, Scotiabank raised AppLovin to a "strong-buy" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $438.43.

Insider Buying and Selling at AppLovin

In other news, CFO Matthew Stumpf sold 9,714 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $423.00, for a total value of $4,109,022.00. Following the sale, the chief financial officer directly owned 192,421 shares of the company's stock, valued at approximately $81,394,083. This trade represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 513 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the sale, the director directly owned 3,451 shares in the company, valued at approximately $1,450,455.30. This represents a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock valued at $455,062,980 in the last quarter. Corporate insiders own 13.66% of the company's stock.

AppLovin Stock Down 3.2%

NASDAQ APP traded down $11.22 on Friday, hitting $335.10. 3,575,879 shares of the stock traded hands, compared to its average volume of 6,254,586. The stock has a 50-day moving average of $358.23 and a 200 day moving average of $334.19. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a market capitalization of $113.39 billion, a P/E ratio of 60.49, a price-to-earnings-growth ratio of 2.00 and a beta of 2.42. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10.

AppLovin (NASDAQ:APP - Get Free Report) last posted 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. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the firm earned $0.67 EPS. The firm's revenue was up 40.3% compared to the same quarter last year. As a group, analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin 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.