Deutsche Bank AG Has $581.57 Million Stake in AppLovin Corporation $APP

Deutsche Bank AG reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 863,098 shares of the company’s stock after selling 34,035 shares during the quarter. Deutsche Bank AG’s holdings in AppLovin were worth $581,573,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Washington Trust Advisors Inc. raised its stake in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in AppLovin during the fourth quarter worth $27,000. CBIZ Investment Advisory Services LLC raised its stake in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in AppLovin during the fourth quarter worth $32,000. Finally, Graney & King LLC acquired a new position in AppLovin during the third quarter worth $36,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup reiterated a “buy” rating and set a $710.00 price objective on shares of AppLovin in a research note on Monday, June 1st. JPMorgan Chase & Co. increased their price objective on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Wells Fargo & Company increased their price objective on AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price objective on shares of AppLovin in a research note on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $660.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $664.35.

Insider Activity at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 40,704 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the transaction, the chief executive officer owned 2,430,414 shares in the company, valued at $1,117,625,877.90. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 347,372 shares of company stock valued at $164,641,603 in the last three months. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Trading Down 7.6%

Shares of NASDAQ APP opened at $520.84 on Wednesday. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The company has a 50-day moving average of $476.67 and a two-hundred day moving average of $521.50. The company has a market cap of $174.97 billion, a PE ratio of 44.75, a P/E/G ratio of 0.92 and a beta of 2.45. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business earned $1.67 earnings per share. AppLovin’s quarterly revenue was up 58.9% on a year-over-year basis. As a group, equities analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.