DJE Kapital AG Acquires 18,200 Shares of AppLovin Corporation $APP

Key Points

• DJE Kapital AG sharply increased its stake in AppLovin, buying 18,200 additional shares in the first quarter and raising its holdings to 19,200 shares worth about $7.27 million.
• AppLovin reported strong quarterly results, with earnings of $3.56 per share and revenue of $1.84 billion, both beating analyst expectations and showing 58.9% year-over-year revenue growth.
• Despite insider selling and some recent volatility, Wall Street remains constructive on the stock, with analysts assigning a Moderate Buy rating and an average price target of $668.45.

DJE Kapital AG lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 1,820.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,200 shares of the company's stock after purchasing an additional 18,200 shares during the quarter. DJE Kapital AG's holdings in AppLovin were worth $7,269,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of 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 shares of AppLovin during the 4th quarter valued at $239,000. Integrated Wealth Concepts LLC lifted its holdings in shares of AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock worth $448,000 after acquiring an additional 621 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company's stock worth $5,084,000 after acquiring an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company's stock worth $48,727,000 after acquiring an additional 9,380 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 0.0%

Shares of NASDAQ APP opened at $424.60 on Tuesday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 52 week low of $343.00 and a 52 week high of $745.61. The firm's fifty day moving average is $504.94 and its 200 day moving average is $485.82. The company has a market cap of $142.64 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 0.69 and a beta of 2.49.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the prior year, the company posted $1.67 EPS. The firm's revenue for the quarter was up 58.9% compared to the same quarter last year. On average, equities research analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current year.

Insider Activity at AppLovin

In other news, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares in the company, valued at approximately $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 393,000 shares of company stock valued at $197,297,363 in the last quarter. 12.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on APP shares. Wells Fargo & Company increased their target price on AppLovin from $571.00 to $575.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Wedbush reaffirmed an "outperform" rating and set a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. KeyCorp set a $775.00 price objective on AppLovin in a report on Wednesday, June 10th. BTIG Research reiterated a "buy" rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, Citigroup reiterated a "buy" rating on shares of AppLovin in a research report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and an average target price of $668.45.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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