AppLovin Co. (NASDAQ:APP) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its stake in AppLovin Co. (NASDAQ:APP) by 64.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,071 shares of the company’s stock after purchasing an additional 104,098 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in AppLovin were worth $34,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in APP. Mitsubishi UFJ Trust & Banking Corp increased its holdings in AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after buying an additional 248,022 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after acquiring an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of AppLovin by 167.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after acquiring an additional 10,099 shares in the last quarter. Clearbridge Investments LLC lifted its stake in AppLovin by 73.0% during the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock worth $74,344,000 after purchasing an additional 376,835 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE acquired a new position in AppLovin in the third quarter valued at approximately $7,086,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares in the company, valued at approximately $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is owned by company insiders.

AppLovin Stock Up 3.8 %

AppLovin stock opened at $165.18 on Wednesday. The stock’s 50 day moving average price is $129.12 and its 200 day moving average price is $97.33. The company has a market cap of $55.21 billion, a PE ratio of 70.29, a price-to-earnings-growth ratio of 2.36 and a beta of 1.86. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $174.46.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $0.22 EPS. The business’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, sell-side analysts predict that AppLovin Co. will post 3.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on APP shares. Wells Fargo & Company began coverage on shares of AppLovin in a research report on Monday, October 28th. They set an “overweight” rating and a $200.00 price objective for the company. Jefferies Financial Group upped their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Macquarie reaffirmed an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Finally, UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average price target of $136.78.

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.