Mn Services Vermogensbeheer B.V. Acquires 28,700 Shares of AppLovin Corporation $APP

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in AppLovin Corporation by 49.5%, owning 86,700 shares worth approximately $30.35 million.
• AppLovin has received mixed ratings from analysts, with Jefferies raising its price target significantly to $615, while other analysts like Wall Street Zen downgraded the rating to "hold".
• In a recent earnings report, AppLovin reported $1.26 billion in revenue, which is up 77.1% year-over-year, though it fell short of expectations.

Mn Services Vermogensbeheer B.V. increased its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 49.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,700 shares of the company's stock after purchasing an additional 28,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in AppLovin were worth $30,352,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of AppLovin by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock valued at $4,724,594,000 after purchasing an additional 1,213,536 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in AppLovin by 36.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company's stock valued at $1,745,752,000 after buying an additional 1,769,400 shares during the last quarter. Baillie Gifford & Co. raised its position in AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock valued at $1,396,486,000 after buying an additional 1,185,859 shares during the last quarter. Invesco Ltd. raised its position in AppLovin by 32.9% in the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company's stock valued at $1,062,876,000 after buying an additional 992,316 shares during the last quarter. Finally, Kensico Capital Management Corp raised its position in AppLovin by 12.9% in the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company's stock valued at $762,849,000 after buying an additional 328,000 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Trading Up 4.5%

Shares of APP stock traded up $28.07 on Friday, hitting $649.59. The company had a trading volume of 73,086,587 shares, compared to its average volume of 6,614,834. AppLovin Corporation has a twelve month low of $123.51 and a twelve month high of $653.06. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The stock's 50-day moving average is $451.52 and its two-hundred day moving average is $363.67. The firm has a market cap of $219.72 billion, a P/E ratio of 92.27, a P/E/G ratio of 3.60 and a beta of 2.44.

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

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction dated Friday, August 22nd. The stock was 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 owned 3,360,104 shares of the company's stock, valued at $1,470,280,707.28. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 350 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $487.97, for a total value of $170,789.50. Following the transaction, the director owned 3,150 shares in the company, valued at approximately $1,537,105.50. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock worth $514,863,333 over the last three months. Corporate insiders own 13.66% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on APP. Wells Fargo & Company boosted their price target on AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Benchmark boosted their target price on AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Wall Street Zen lowered AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Jefferies Financial Group boosted their target price on AppLovin from $560.00 to $615.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Zacks Research upgraded AppLovin to a "strong-buy" rating in a research note on Friday, August 8th. Two equities research 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $501.95.

AppLovin 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.