KBC Group NV Buys 5,223 Shares of AppLovin Corporation $APP

KBC Group NV increased its stake in AppLovin Corporation (NASDAQ:APP) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 255,447 shares of the company’s stock after buying an additional 5,223 shares during the quarter. KBC Group NV owned approximately 0.08% of AppLovin worth $101,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Washington Trust Advisors Inc. raised its position 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. Mcguire Capital Advisors Inc. bought a new position in shares of AppLovin in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC bought a new position in shares of AppLovin in the 4th quarter valued at about $32,000. First Pacific Financial acquired a new position in shares of AppLovin during the 1st quarter worth about $33,000. Finally, IMA Advisory Services Inc. increased its stake in shares of AppLovin by 40.0% during the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after purchasing an additional 24 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on APP shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research note on Thursday, May 7th. KeyCorp set a $775.00 price target on AppLovin in a research report on Wednesday, June 10th. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research note on Tuesday, July 7th. Wedbush reaffirmed an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their target price on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the transaction, the insider owned 243,961 shares in the company, valued at $138,055,090.29. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the transaction, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 393,000 shares of company stock valued at $197,297,363 in the last quarter. Company insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $424.54 on Monday. AppLovin Corporation has a twelve month low of $343.00 and a twelve month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a 50-day simple moving average of $506.01 and a two-hundred day simple moving average of $487.71. The stock has a market capitalization of $142.62 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49.

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 firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business posted $1.67 EPS. The business’s revenue was up 58.9% compared to the same quarter last year. Analysts forecast that AppLovin Corporation will post 15.93 EPS for the current 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.