Baader Bank Aktiengesellschaft Reduces Stake in AppLovin Co. (NASDAQ:APP)

Baader Bank Aktiengesellschaft lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 45.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,400 shares of the company’s stock after selling 1,964 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in AppLovin were worth $777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. WCM Investment Management LLC boosted its stake in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the period. FMR LLC boosted its position in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. State Street Corp grew its holdings in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after purchasing an additional 449,241 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in AppLovin by 1.3% in the third quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock valued at $462,077,000 after purchasing an additional 46,854 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Performance

AppLovin stock opened at $365.51 on Friday. AppLovin Co. has a 1-year low of $40.71 and a 1-year high of $417.64. The firm has a market cap of $122.66 billion, a P/E ratio of 110.76, a P/E/G ratio of 2.96 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a 50-day moving average of $340.85 and a 200-day moving average of $205.26.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Sell-side analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Wall Street Analyst Weigh In

APP has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. The Goldman Sachs Group upped their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Piper Sandler started coverage on AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $366.29.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

About AppLovin

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.