KBC Group NV Acquires 189,313 Shares of AppLovin Co. (NASDAQ:APP)

KBC Group NV raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 35.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 728,016 shares of the company’s stock after purchasing an additional 189,313 shares during the period. KBC Group NV owned 0.22% of AppLovin worth $95,042,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. D Orazio & Associates Inc. bought a new position in AppLovin during the third quarter worth $210,000. Oppenheimer Asset Management Inc. raised its position in shares of AppLovin by 10.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock worth $3,440,000 after acquiring an additional 2,385 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of AppLovin by 45.5% in the 3rd quarter. Victory Capital Management Inc. now owns 374,892 shares of the company’s stock valued at $48,942,000 after purchasing an additional 117,186 shares during the period. Aptus Capital Advisors LLC boosted its position in shares of AppLovin by 0.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after purchasing an additional 104 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in AppLovin by 37.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 498,534 shares of the company’s stock worth $65,084,000 after purchasing an additional 134,645 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP stock opened at $283.96 on Thursday. AppLovin Co. has a one year low of $35.79 and a one year high of $292.86. The company has a market cap of $94.91 billion, a P/E ratio of 86.05, a P/E/G ratio of 3.56 and a beta of 1.86. The firm has a 50-day moving average of $151.08 and a 200-day moving average of $105.82. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for 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 company’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. Equities research analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts have issued reports on APP shares. BTIG Research increased their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Oppenheimer raised their price target on shares of AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Stifel Nicolaus boosted their target price on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group increased their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $194.31.

AppLovin Company 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.