AppLovin Corporation $APP Holdings Lowered by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft sold 810 shares of AppLovin Corporation, reducing its holdings by 28.2%, leaving it with 2,062 shares valued at $722,000.
• In recent trades, insider sales included CTO Vasily Shikin selling 30,000 shares for over $13 million, while a director sold 350 shares valued at approximately $170,000.
• Analyst opinions are generally positive, with Morgan Stanley raising AppLovin's target price to $480 and Zacks Research upgrading it to a "strong-buy" rating.

Baader Bank Aktiengesellschaft reduced its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 28.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,062 shares of the company's stock after selling 810 shares during the period. Baader Bank Aktiengesellschaft's holdings in AppLovin were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Forum Financial Management LP raised its position in shares of AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after acquiring an additional 33 shares in the last quarter. Vestcor Inc raised its position in shares of AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock valued at $1,088,000 after acquiring an additional 33 shares in the last quarter. GSG Advisors LLC raised its position in shares of AppLovin by 0.3% during the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock valued at $2,820,000 after acquiring an additional 35 shares in the last quarter. Argentarii LLC raised its position in shares of AppLovin by 1.5% during the 1st quarter. Argentarii LLC now owns 2,638 shares of the company's stock valued at $699,000 after acquiring an additional 40 shares in the last quarter. Finally, Atlas Capital Advisors Inc. grew its stake in AppLovin by 11.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock worth $104,000 after buying an additional 40 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 90,000 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares of the company's stock, valued at $1,103,147,536.16. This trade represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $432.49, for a total value of $86,498,000.00. Following the transaction, the director directly owned 181,929 shares of the company's stock, valued at $78,682,473.21. This represents a 52.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Corporate insiders own 13.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler upped their price objective on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Scotiabank restated an "outperform" rating on shares of AppLovin in a research note on Thursday, August 28th. JPMorgan Chase & Co. upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company upped their price objective on AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $501.95.

AppLovin Stock Performance

Shares of NASDAQ:APP traded down $6.09 on Monday, hitting $643.50. The company's stock had a trading volume of 9,256,930 shares, compared to its average volume of 9,961,002. AppLovin Corporation has a 12 month low of $124.59 and a 12 month high of $657.00. The company has a market capitalization of $217.66 billion, a price-to-earnings ratio of 91.41, a price-to-earnings-growth ratio of 3.60 and a beta of 2.44. The stock's 50-day moving average is $457.27 and its two-hundred day moving average is $367.01. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the business posted $0.89 earnings per share. The company's quarterly revenue was up 77.1% on a year-over-year basis. On average, equities research analysts forecast that AppLovin Corporation will post 6.87 EPS 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.