Robeco Institutional Asset Management B.V. Lowers Position in AppLovin Corporation $APP

by · The Cerbat Gem

Robeco Institutional Asset Management B.V. decreased its holdings in shares of AppLovin Corporation (NASDAQ:APP – Free Report) by 67.7% in the 3rd quarter, Holdings Channel reports. The firm owned 38,363 shares of the company’s stock after selling 80,416 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in AppLovin were worth $27,565,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in AppLovin by 0.4% during the second quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company’s stock valued at $6,267,410,000 after purchasing an additional 72,120 shares during the last quarter. State Street Corp raised its position in shares of AppLovin by 2.4% during the 2nd quarter. State Street Corp now owns 5,615,415 shares of the company’s stock valued at $1,965,844,000 after buying an additional 133,402 shares in the last quarter. Norges Bank bought a new stake in shares of AppLovin during the 2nd quarter worth $951,541,000. Jennison Associates LLC grew its position in AppLovin by 4.9% in the second quarter. Jennison Associates LLC now owns 2,504,180 shares of the company’s stock worth $876,663,000 after acquiring an additional 117,200 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in AppLovin by 0.7% in the second quarter. Legal & General Group Plc now owns 1,417,199 shares of the company’s stock valued at $496,133,000 after acquiring an additional 9,711 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Up 2.5%

NASDAQ:APP opened at $632.92 on Thursday. The firm has a market capitalization of $213.90 billion, a P/E ratio of 76.81, a P/E/G ratio of 2.04 and a beta of 2.50. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The company has a fifty day moving average of $638.87 and a 200 day moving average of $539.86. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $1.29 EPS. The company’s revenue was up 68.2% on a year-over-year basis. On average, research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Activity

In other AppLovin news, Director Eduardo Vivas sold 150,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the transaction, the director directly owned 7,133,292 shares of the company’s stock, valued at approximately $4,643,131,095.72. The trade was a 2.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 30,888 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the completion of the transaction, the chief executive officer owned 2,553,161 shares of the company’s stock, valued at $1,328,384,136.69. This trade represents a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 340,336 shares of company stock valued at $200,062,623. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on APP shares. JPMorgan Chase & Co. upped their price objective on AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Bank of America boosted their target price on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. UBS Group reaffirmed a “buy” rating and issued a $775.00 target price on shares of AppLovin in a research note on Thursday, December 11th. Oppenheimer set a $740.00 price target on shares of AppLovin in a research note on Tuesday, October 7th. Finally, Morgan Stanley upped their price objective on shares of AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $695.90.

View Our Latest Research Report on AppLovin

About AppLovin

(Free Report)

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.

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