AppLovin Corporation $APP Shares Purchased by Allstate Corp

Allstate Corp increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 105.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,360 shares of the company’s stock after purchasing an additional 8,928 shares during the period. Allstate Corp’s holdings in AppLovin were worth $11,698,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mediolanum International Funds Ltd raised its position in shares of AppLovin by 73.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after purchasing an additional 32,510 shares in the last quarter. Allworth Financial LP raised its position in shares of AppLovin by 131.7% in 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 in the last quarter. APG Asset Management N.V. acquired a new position in shares of AppLovin in the 3rd quarter valued at approximately $4,958,000. Principal Financial Group Inc. raised its position in shares of AppLovin by 946.5% in the 3rd quarter. Principal Financial Group Inc. now owns 326,999 shares of the company’s stock valued at $234,962,000 after purchasing an additional 295,753 shares in the last quarter. Finally, Metis Global Partners LLC increased its holdings in shares of AppLovin by 138.3% in the 3rd quarter. Metis Global Partners LLC now owns 10,094 shares of the company’s stock valued at $7,253,000 after acquiring an additional 5,859 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of APP opened at $481.68 on Tuesday. The company has a market cap of $161.82 billion, a P/E ratio of 41.38, a PEG ratio of 0.78 and a beta of 2.37. The stock has a fifty day moving average price of $446.95 and a 200 day moving average price of $522.30. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61.

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

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on APP shares. Evercore reiterated a “buy” rating on shares of AppLovin in a report on Friday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, May 7th. Citigroup lowered their price target on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Benchmark reiterated a “buy” rating on shares of AppLovin in a report on Friday, March 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Company 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.