DekaBank Deutsche Girozentrale Decreases Stock Holdings in AppLovin Co. (NASDAQ:APP)

DekaBank Deutsche Girozentrale lessened its stake in AppLovin Co. (NASDAQ:APP) by 21.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 130,549 shares of the company’s stock after selling 35,272 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in AppLovin were worth $16,753,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new position in shares of AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the 3rd quarter worth $29,000. ORG Wealth Partners LLC acquired a new position in AppLovin during the 3rd quarter valued at about $42,000. Quest Partners LLC purchased a new stake in AppLovin in the second quarter valued at about $33,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in AppLovin in the second quarter worth about $34,000. 41.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 5,500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00. Following the sale, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock worth $51,022,478 in the last ninety days. Company insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APP shares. Loop Capital assumed coverage on shares of AppLovin in a report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price objective on the stock. Macquarie restated an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. BTIG Research lifted their price objective on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Bank of America lifted their price target on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.72.

AppLovin Price Performance

Shares of NASDAQ APP opened at $172.24 on Wednesday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $56.67 billion, a price-to-earnings ratio of 102.52, a PEG ratio of 2.07 and a beta of 1.92. The firm’s 50 day simple moving average is $123.04 and its 200-day simple moving average is $94.65. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $172.55.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm’s revenue was up 44.0% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. Analysts expect that AppLovin Co. will post 3.46 EPS for the current year.

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.