KBC Group NV Increases Stock Holdings in AppLovin Co. (NASDAQ:APP)

KBC Group NV boosted its position in shares of AppLovin Co. (NASDAQ:APP) by 35.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 728,016 shares of the company’s stock after purchasing an additional 189,313 shares during the period. KBC Group NV’s holdings in AppLovin were worth $95,042,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin in the 3rd quarter valued at about $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin in the third quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin in the third quarter valued at approximately $29,000. Quest Partners LLC bought a new stake in AppLovin during the second quarter valued at approximately $33,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in AppLovin in the 2nd quarter worth approximately $34,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $283.96 on Thursday. 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 company’s fifty day simple moving average is $151.08 and its two-hundred day simple moving average is $105.82. The firm has a market cap of $94.91 billion, a PE ratio of 86.05, a price-to-earnings-growth ratio of 3.56 and a beta of 1.86. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $292.86.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. As a group, equities analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,866 shares of company stock valued at $34,670,777. Company insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on APP shares. Citigroup raised their price objective on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company assumed coverage on AppLovin in a research note on Monday, October 28th. They issued an “overweight” rating and a $200.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.31.

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.