Federation des caisses Desjardins du Quebec Acquires 4,541 Shares of AppLovin Corporation $APP

Federation des caisses Desjardins du Quebec lifted its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 36.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,123 shares of the company's stock after buying an additional 4,541 shares during the period. Federation des caisses Desjardins du Quebec's holdings in AppLovin were worth $4,537,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APP. Revolve Wealth Partners LLC bought a new stake in shares of AppLovin in the 4th quarter worth about $294,000. Bison Wealth LLC bought a new stake in shares of AppLovin in the 4th quarter worth about $239,000. Benjamin Edwards Inc. increased its holdings in shares of AppLovin by 11.8% in 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 last quarter. BOKF NA increased its holdings in shares of AppLovin by 22.3% in the 4th quarter. BOKF NA now owns 9,223 shares of the company's stock worth $2,937,000 after buying an additional 1,680 shares during the last quarter. Finally, Concentric Capital Strategies LP bought a new stake in shares of AppLovin in the 4th quarter worth about $2,168,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on APP shares. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Jefferies Financial Group lifted their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Benchmark reaffirmed a "buy" rating and set a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. BTIG Research lifted their price target on shares of AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $478.81.

AppLovin Price Performance

APP stock opened at $499.97 on Friday. The stock has a market cap of $169.11 billion, a PE ratio of 71.02, a P/E/G ratio of 2.72 and a beta of 2.44. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 12 month low of $82.51 and a 12 month high of $525.15. The company has a 50-day moving average price of $398.93 and a 200 day moving average price of $348.84.

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

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,000 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $450.00, for a total value of $6,750,000.00. Following the completion of the sale, the insider directly owned 304,955 shares of the company's stock, valued at $137,229,750. The trade was a 4.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 30,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,122,938 shares of company stock valued at $497,688,184 in the last three months. Company insiders own 13.66% of the company's stock.

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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Corporation (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.