AppLovin Corporation $APP Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its holdings in AppLovin Corporation (NASDAQ:APP) by 19.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,779 shares of the company’s stock after selling 29,131 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in AppLovin were worth $41,582,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vestcor Inc lifted its position in AppLovin by 0.8% in the first quarter. Vestcor Inc now owns 4,108 shares of the company’s stock valued at $1,088,000 after buying an additional 33 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of AppLovin by 32.7% in the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock worth $48,000 after acquiring an additional 34 shares during the last quarter. GSG Advisors LLC boosted its position in shares of AppLovin by 0.3% during the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock worth $2,820,000 after purchasing an additional 35 shares during the period. Argentarii LLC increased its holdings in AppLovin by 1.5% in the 1st quarter. Argentarii LLC now owns 2,638 shares of the company’s stock valued at $699,000 after purchasing an additional 40 shares during the last quarter. Finally, Atlas Capital Advisors Inc. raised its position in AppLovin by 11.3% in the first quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company’s stock valued at $104,000 after purchasing an additional 40 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on APP. Morgan Stanley raised their price target on AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a research report on Monday. Phillip Securities upgraded AppLovin to a “moderate buy” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppLovin in a research note on Saturday, September 27th. Piper Sandler raised their price objective on shares of AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Wall Street Zen cut shares of AppLovin from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $578.86.

Insider Activity

In other news, Director Eduardo Vivas sold 125,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares of the company’s stock, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the transaction, the chief technology officer owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. Insiders own 13.66% of the company’s stock.

AppLovin Stock Down 0.1%

APP stock opened at $682.76 on Friday. The company’s 50 day moving average price is $514.58 and its 200 day moving average price is $390.81. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a fifty-two week low of $135.50 and a fifty-two week high of $745.61. The firm has a market capitalization of $230.94 billion, a price-to-earnings ratio of 96.98, a PEG ratio of 3.75 and a beta of 2.53.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was up 77.1% on a year-over-year basis. On average, equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal 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.