Mn Services Vermogensbeheer B.V. Sells 4,100 Shares of AppLovin Co. (NASDAQ:APP)

Mn Services Vermogensbeheer B.V. cut its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,000 shares of the company's stock after selling 4,100 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in AppLovin were worth $15,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of APP. Dynamic Advisor Solutions LLC acquired a new position in shares of AppLovin in the 1st quarter worth $281,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of AppLovin by 62.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock worth $45,675,000 after acquiring an additional 66,453 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in AppLovin during the first quarter valued at $359,000. CVA Family Office LLC grew its stake in AppLovin by 53.5% in the first quarter. CVA Family Office LLC now owns 132 shares of the company's stock valued at $35,000 after purchasing an additional 46 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC increased its position in AppLovin by 9.1% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 12,750 shares of the company's stock worth $3,378,000 after purchasing an additional 1,065 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

APP stock traded up $6.19 during trading on Monday, hitting $370.68. 3,537,913 shares of the stock traded hands, compared to its average volume of 6,114,591. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $125.43 billion, a price-to-earnings ratio of 81.65, a P/E/G ratio of 3.02 and a beta of 2.53. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a 50 day simple moving average of $324.29 and a 200 day simple moving average of $334.22.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted $0.67 earnings per share. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. Equities analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Activity

In other news, Director Craig Scott Billings sold 12,000 shares of AppLovin stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $353.12, for a total transaction of $4,237,440.00. Following the completion of the sale, the director now owns 2,987 shares in the company, valued at $1,054,769.44. The trade was a 80.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 6,585 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the completion of the transaction, the insider now owns 357,903 shares in the company, valued at $132,506,427.69. This represents a 1.81% 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 over 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 company. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Wednesday, May 28th. Loop Capital reissued a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Morgan Stanley upped their target price on shares of AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, Jefferies Financial Group raised their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average price target of $438.10.

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.