Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in AppLovin Corporation $APP

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in AppLovin Corporation (NASDAQ:APP) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,899 shares of the company’s stock after acquiring an additional 5,755 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in AppLovin were worth $70,683,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin in the 4th quarter valued at $27,000. Washington Trust Advisors Inc. boosted its holdings in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new stake in AppLovin during the fourth quarter worth $32,000. Graney & King LLC purchased a new stake in AppLovin during the third quarter worth $36,000. Finally, Aventura Private Wealth LLC purchased a new stake in AppLovin during the fourth quarter worth $38,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the sale, the chief executive officer owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 226,014 shares of company stock valued at $113,073,400. Corporate insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Oppenheimer lowered their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. BTIG Research reissued a “buy” rating and set a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

AppLovin Stock Performance

APP opened at $496.77 on Monday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The company has a market cap of $166.88 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 0.81 and a beta of 2.45. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The firm’s fifty day simple moving average is $482.88 and its two-hundred day simple moving average is $520.57.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue was up 58.9% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. Equities analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

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.