Alberta Investment Management Corp Acquires 10,100 Shares of AppLovin Corporation $APP

Alberta Investment Management Corp lifted its holdings in AppLovin Corporation (NASDAQ:APPFree Report) by 92.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,000 shares of the company’s stock after purchasing an additional 10,100 shares during the quarter. Alberta Investment Management Corp’s holdings in AppLovin were worth $14,150,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Board of the Pension Protection Fund bought a new stake in shares of AppLovin during the 4th quarter worth approximately $27,000. Washington Trust Advisors Inc. raised its stake in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin during the 4th quarter worth approximately $32,000. Graney & King LLC bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $36,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of AppLovin during the 4th quarter worth approximately $38,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $520.86 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock’s fifty day moving average price is $485.57 and its two-hundred day moving average price is $520.32. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The firm has a market cap of $174.98 billion, a price-to-earnings ratio of 44.75, a P/E/G ratio of 0.81 and a beta of 2.45.

AppLovin (NASDAQ:APPGet Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $1.67 EPS. The company’s revenue for the quarter was up 58.9% on a year-over-year basis. On average, equities analysts forecast that AppLovin Corporation will post 15.86 EPS for the current year.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 8,112 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $483.67, for a total value of $3,923,531.04. Following the sale, the chief technology officer directly owned 18,805 shares in the company, valued at approximately $9,095,414.35. This trade represents a 30.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 226,014 shares of company stock worth $113,073,400 in the last quarter. 13.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on APP shares. UBS Group dropped their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Wedbush reiterated an “outperform” rating and set a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Citigroup reiterated a “buy” rating and set a $710.00 price objective on shares of AppLovin in a research note on Monday, June 1st. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Finally, Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $669.62.

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AppLovin Company Profile

(Free Report)

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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