AppLovin Corporation $APP Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp boosted its stake in AppLovin Corporation (NASDAQ:APP) by 92.7% in the fourth quarter, Holdings Channel reports. The fund owned 21,000 shares of the company’s stock after buying 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.

Several other large investors also recently bought and sold shares of APP. Allworth Financial LP grew its position in AppLovin by 131.7% during the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares during the last quarter. APG Asset Management N.V. purchased a new position in AppLovin in the third quarter worth about $4,958,000. Franklin Resources Inc. raised its holdings in AppLovin by 24.9% in the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock worth $1,754,996,000 after buying an additional 487,492 shares during the last quarter. TIAA Trust National Association lifted its stake in shares of AppLovin by 431.7% in the third quarter. TIAA Trust National Association now owns 52,749 shares of the company’s stock worth $37,902,000 after buying an additional 42,829 shares in the last quarter. Finally, Generate Investment Management Ltd bought a new position in shares of AppLovin in the fourth quarter worth approximately $2,347,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 33,042 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the completion of the sale, the chief executive officer directly owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the sale, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 389,924 shares of company stock valued at $195,693,875 in the last 90 days. 13.66% of the stock is owned by insiders.

AppLovin Stock Down 2.0%

APP stock opened at $469.71 on Friday. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The business’s 50-day moving average is $490.66 and its two-hundred day moving average is $518.14. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market cap of $157.79 billion, a price-to-earnings ratio of 40.35, a P/E/G ratio of 0.78 and a beta of 2.45.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (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 business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the company posted $1.67 EPS. The business’s quarterly revenue was up 58.9% compared to the same quarter last year. As a group, analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on APP shares. Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Oppenheimer cut their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Argus started coverage on AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $660.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Finally, UBS Group lowered their price target on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $669.62.

AppLovin Profile

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.