KBC Group NV Has $95.04 Million Holdings in AppLovin Co. (NASDAQ:APP)

KBC Group NV grew its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 35.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728,016 shares of the company's stock after acquiring an additional 189,313 shares during the period. KBC Group NV owned about 0.22% of AppLovin worth $95,042,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its holdings in AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company's stock valued at $1,118,000 after buying an additional 10,099 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of AppLovin in the 1st quarter valued at approximately $1,235,000. SG Americas Securities LLC raised its position in shares of AppLovin by 33.5% during the 1st quarter. SG Americas Securities LLC now owns 4,100 shares of the company's stock valued at $284,000 after acquiring an additional 1,028 shares in the last quarter. Sei Investments Co. boosted its holdings in AppLovin by 457.9% in the first quarter. Sei Investments Co. now owns 291,359 shares of the company's stock worth $20,168,000 after purchasing an additional 239,131 shares during the period. Finally, QRG Capital Management Inc. increased its stake in AppLovin by 9.7% during the first quarter. QRG Capital Management Inc. now owns 7,988 shares of the company's stock valued at $553,000 after purchasing an additional 705 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

APP traded up $1.11 during trading on Thursday, reaching $285.07. The stock had a trading volume of 4,825,042 shares, compared to its average volume of 4,301,508. The firm has a market capitalization of $95.28 billion, a price-to-earnings ratio of 86.05, a price-to-earnings-growth ratio of 3.56 and a beta of 1.86. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $302.52. The stock has a 50 day moving average of $151.08 and a two-hundred day moving average of $105.82.

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

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares of the company's stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company's stock, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,866 shares of company stock worth $34,670,777. Corporate insiders own 14.69% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on APP. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $160.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Oppenheimer lifted their target price on AppLovin from $180.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Benchmark reaffirmed a "sell" rating and set a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. Macquarie raised their price target on AppLovin from $150.00 to $270.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Daiwa Capital Markets upgraded AppLovin from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. One 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.