Banque Transatlantique SA Has $142,000 Position in AppLovin Corporation $APP

Key Points

• Banque Transatlantique SA significantly increased its holdings in AppLovin Corporation by 6,322.2%, accumulating $142,000 worth of shares during the first quarter.
• AppLovin reported an earnings per share (EPS) of $2.26, exceeding analysts' expectations, despite revenue falling short at $1.26 billion for the quarter.
• Institutional investors currently own 41.85% of AppLovin's stock, indicating strong interest, while insiders have recently sold a combined $497 million worth of shares.

Banque Transatlantique SA grew its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 6,322.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 578 shares of the company's stock after acquiring an additional 569 shares during the period. Banque Transatlantique SA's holdings in AppLovin were worth $142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new position in AppLovin in the 4th quarter worth approximately $294,000. Bison Wealth LLC purchased a new stake in AppLovin in the 4th quarter worth approximately $239,000. Benjamin Edwards Inc. increased its stake in AppLovin by 11.8% during the 4th quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company's stock worth $1,009,000 after buying an additional 329 shares during the period. BOKF NA grew its position in shares of AppLovin by 22.3% during the 4th quarter. BOKF NA now owns 9,223 shares of the company's stock valued at $2,937,000 after buying an additional 1,680 shares during the last quarter. Finally, Concentric Capital Strategies LP bought a new position in shares of AppLovin in the fourth quarter valued at approximately $2,168,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

AppLovin stock traded up $58.22 during mid-day trading on Monday, reaching $548.46. 14,611,469 shares of the company's stock traded hands, compared to its average volume of 7,049,672. The company has a market cap of $185.52 billion, a price-to-earnings ratio of 77.64, a PEG ratio of 2.74 and a beta of 2.44. The stock has a 50 day moving average of $402.06 and a two-hundred day moving average of $347.07. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 12-month low of $84.73 and a 12-month high of $555.50.

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

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 350 shares of AppLovin stock in a transaction on Friday, September 5th. The stock was sold at an average price of $487.97, for a total transaction of $170,789.50. Following the transaction, the director owned 3,150 shares in the company, valued at $1,537,105.50. The trade was a 10.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of AppLovin stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the transaction, the insider owned 269,955 shares of the company's stock, valued at $135,579,499.65. This trade represents a 11.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,158,288 shares of company stock worth $515,437,023. Company insiders own 13.66% of the company's stock.

Analysts Set New Price Targets

APP has been the topic of several recent analyst reports. BTIG Research lifted their target price on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Wall Street Zen cut shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Jefferies Financial Group upped their price target on shares of AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a report on Friday. Finally, Piper Sandler raised their price objective on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. 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 given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $482.86.

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.