OMERS ADMINISTRATION Corp Has $5.53 Million Position in AppLovin Corporation $APP

OMERS ADMINISTRATION Corp raised its stake in AppLovin Corporation (NASDAQ:APP) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,895 shares of the company’s stock after purchasing an additional 1,816 shares during the period. OMERS ADMINISTRATION Corp’s holdings in AppLovin were worth $5,530,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC bought a new position in AppLovin during the 1st quarter worth $25,000. Washington Trust Advisors Inc. increased its stake in AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of AppLovin during the 4th quarter worth $27,000. Laurel Wealth Advisors LLC acquired a new position in AppLovin during the fourth quarter worth about $32,000. Finally, First Pacific Financial acquired a new position in AppLovin during the 1st quarter worth approximately $33,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APP. JPMorgan Chase & Co. upped their target price on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Citigroup restated a “buy” rating on shares of AppLovin in a research report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $668.45.

AppLovin Stock Performance

NASDAQ:APP opened at $391.98 on Monday. The company has a market capitalization of $131.68 billion, a PE ratio of 33.68, a P/E/G ratio of 0.64 and a beta of 2.49. The company has a 50 day simple moving average of $498.97 and a two-hundred day simple moving average of $479.01. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a fifty-two week low of $357.03 and a fifty-two week high of $745.61.

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, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $1.67 EPS. Research analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current year.

Insider Activity at AppLovin

In related news, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction on Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the transaction, the director owned 120,444 shares of the company’s stock, valued at $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the transaction, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 393,000 shares of company stock valued at $197,297,363 over the last 90 days. 12.81% of the stock is owned by company insiders.

About AppLovin

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.