Robeco Institutional Asset Management B.V. Sells 94,387 Shares of AppLovin Corporation (NASDAQ:APP)

Robeco Institutional Asset Management B.V. reduced its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 39.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,910 shares of the company's stock after selling 94,387 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in AppLovin were worth $39,192,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in APP. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin during the fourth quarter worth about $25,000. Riverview Trust Co raised its holdings in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of AppLovin during the 4th quarter valued at about $28,000. Smithfield Trust Co purchased a new position in shares of AppLovin during the fourth quarter worth about $32,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of AppLovin during the first quarter worth about $29,000. Institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In other news, Director Herald Y. Chen sold 400,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the transaction, the director now owns 221,209 shares in the company, valued at $82,867,103.49. This trade represents a 64.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 513 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the sale, the director now directly owns 3,451 shares in the company, valued at approximately $1,450,455.30. The trade was a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,212,968 shares of company stock worth $455,062,980. 13.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

APP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Benchmark reissued a "buy" rating and issued a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Piper Sandler reaffirmed an "overweight" rating and set a $470.00 price target (up previously from $455.00) on shares of AppLovin in a research note on Thursday. Finally, Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $438.85.

AppLovin Trading Down 3.9%

Shares of NASDAQ:APP traded down $13.67 during midday trading on Friday, hitting $333.78. 18,524,276 shares of the stock traded hands, compared to its average volume of 6,199,642. 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 business's 50 day moving average is $343.55 and its two-hundred day moving average is $333.63. The stock has a market capitalization of $112.95 billion, a PE ratio of 60.25, a P/E/G ratio of 1.94 and a beta of 2.53. AppLovin Corporation has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. AppLovin's revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. As a group, research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.