Raiffeisen Bank International AG Takes Position in AppLovin Corporation (NASDAQ:APP)

Key Points

• Raiffeisen Bank International AG acquired a new stake in AppLovin Corporation, purchasing 1,928 shares worth approximately $525,000.
• Several institutional investors significantly increased their holdings in AppLovin, including Dynasty Wealth Management LLC, which boosted its position by 117,664.4% during the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for AppLovin, with a target price averaging $447.57, reflecting optimistic growth forecasts.

Raiffeisen Bank International AG bought a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,928 shares of the company's stock, valued at approximately $525,000.

Several other hedge funds also recently bought and sold shares of APP. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the 4th quarter valued at approximately $25,000. Atala Financial Inc acquired a new stake in AppLovin during the 1st quarter valued at $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin during the 1st quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin in the 1st quarter valued at $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of AppLovin in the 1st quarter valued at $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

APP traded up $46.77 during trading on Thursday, reaching $437.34. The stock had a trading volume of 20,721,653 shares, compared to its average volume of 4,873,250. The stock has a market cap of $147.99 billion, a PE ratio of 62.12, a PEG ratio of 2.33 and a beta of 2.43. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. AppLovin Corporation has a one year low of $66.16 and a one year high of $525.15. The business has a 50-day moving average of $365.28 and a 200-day moving average of $339.24.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 274.45%. The company's revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wedbush reiterated an "outperform" rating and issued a $620.00 price objective on shares of AppLovin in a report on Thursday. HSBC set a $436.00 target price on AppLovin and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Piper Sandler boosted their target price on AppLovin from $470.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday. Scotiabank boosted their target price on AppLovin from $430.00 to $450.00 and gave the company a "sector outperform" rating in a research note on Thursday. Finally, UBS Group boosted their target price on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $472.33.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 100,000 shares of AppLovin stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total transaction of $36,751,000.00. Following the transaction, the chief executive officer owned 2,760,363 shares in the company, valued at $1,014,461,006.13. This trade represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director owned 221,209 shares in the company, valued at approximately $82,867,103.49. This trade represents a 64.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock worth $455,062,980 over 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.