KBC Group NV Reduces Stock Position in AppLovin Corporation (NASDAQ:APP)

KBC Group NV decreased its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 24.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,764 shares of the company's stock after selling 44,334 shares during the quarter. KBC Group NV's holdings in AppLovin were worth $36,503,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin during the 4th quarter worth about $25,000. Atala Financial Inc purchased a new stake in AppLovin during the first quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new position in AppLovin in the first quarter valued at approximately $27,000. Riverview Trust Co increased its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Finally, Tucker Asset Management LLC acquired a new stake in AppLovin during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

APP traded up $4.24 on Thursday, hitting $340.24. 3,525,836 shares of the company were exchanged, compared to its average volume of 6,207,708. AppLovin Corporation has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $115.13 billion, a P/E ratio of 61.42, a price-to-earnings-growth ratio of 2.01 and a beta of 2.42. The business's fifty day moving average is $349.64 and its 200 day moving average is $333.90.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company's revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. As a group, sell-side analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling

In other news, CFO Matthew Stumpf sold 9,714 shares of AppLovin stock in a transaction on Friday, June 6th. The stock was sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the completion of the transaction, the chief financial officer owned 192,421 shares of the company's stock, valued at $81,394,083. The trade was a 4.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Barbara Messing sold 1,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total transaction of $573,690.00. Following the transaction, the director owned 9,510 shares of the company's stock, valued at $3,637,194.60. This trade represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock valued at $455,062,980 in the last three months. 13.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Oppenheimer reiterated an "outperform" rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Morgan Stanley boosted their target price on AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Wedbush raised AppLovin to a "strong-buy" rating in a research report on Tuesday. HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Benchmark reissued a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $438.85.

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.