AppLovin Corporation $APP Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of AppLovin Corporation (NASDAQ:APP) by 5.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 104,899 shares of the company’s stock after purchasing 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.

A number of other institutional investors have also recently made changes to their positions in APP. Revolve Wealth Partners LLC acquired a new position in shares of AppLovin in the fourth quarter valued at approximately $294,000. Bison Wealth LLC acquired a new position in shares of AppLovin in the fourth quarter valued at approximately $239,000. Integrated Wealth Concepts LLC grew its holdings in shares of AppLovin by 58.0% in the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of AppLovin by 5.7% in the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after purchasing an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of AppLovin by 7.2% in the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after purchasing an additional 9,380 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Argus initiated coverage on shares of AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. UBS Group reduced their price target on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Benchmark reiterated a “buy” rating on shares of AppLovin in a research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the transaction, the chief executive officer directly owned 2,327,684 shares in the company, valued at $1,152,157,026.32. This represents a 0.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 8,112 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $483.67, for a total transaction of $3,923,531.04. Following the transaction, the chief technology officer owned 18,805 shares in the company, valued at approximately $9,095,414.35. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 226,014 shares of company stock worth $113,073,400 over the last three months. Company insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $496.77 on Monday. The company has a market cap of $166.88 billion, a P/E ratio of 42.68, a PEG ratio of 0.81 and a beta of 2.45. 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 one year low of $320.00 and a one year high of $745.61. The firm has a fifty day moving average of $482.88 and a two-hundred day moving average of $520.57.

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

Key AppLovin News

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

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.