Deutsche Bank AG Increases Stock Position in AppLovin Co. (NASDAQ:APP)

Deutsche Bank AG raised its position in AppLovin Co. (NASDAQ:APP) by 64.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 455,496 shares of the company’s stock after buying an additional 178,450 shares during the period. Deutsche Bank AG owned about 0.14% of AppLovin worth $147,503,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Driehaus Capital Management LLC acquired a new position in shares of AppLovin during the 4th quarter worth approximately $502,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in AppLovin in the 4th quarter worth $17,803,000. Concentric Capital Strategies LP acquired a new position in AppLovin during the fourth quarter worth $2,168,000. Castle Hook Partners LP acquired a new stake in shares of AppLovin in the fourth quarter valued at about $205,192,000. Finally, BOKF NA increased its stake in shares of AppLovin by 22.3% during the fourth quarter. BOKF NA now owns 9,223 shares of the company’s stock worth $2,937,000 after purchasing an additional 1,680 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

APP stock opened at $328.79 on Friday. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $111.77 billion, a price-to-earnings ratio of 72.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The business has a fifty day moving average of $275.55 and a two-hundred day moving average of $311.59.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company earned $0.67 EPS. The company’s quarterly revenue was up 40.3% on a year-over-year basis. As a group, research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on APP shares. Morgan Stanley raised their price target on shares of AppLovin from $350.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $500.00 price target (down from $560.00) on shares of AppLovin in a research note on Thursday. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. Finally, UBS Group increased their target price on shares of AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $433.85.

Insider Activity

In related news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. Company insiders own 14.69% of the company’s stock.

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.