Board of the Pension Protection Fund Sells 6,500 Shares of AppLovin Corporation (NASDAQ:APP)

Board of the Pension Protection Fund lowered its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 98.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 100 shares of the company’s stock after selling 6,500 shares during the period. Board of the Pension Protection Fund’s holdings in AppLovin were worth $26,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. HighPoint Advisor Group LLC increased its position in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after buying an additional 31 shares during the period. Quadrant Capital Group LLC grew its holdings in AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after purchasing an additional 33 shares during the period. Forum Financial Management LP grew its holdings in AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after purchasing an additional 33 shares during the period. Truvestments Capital LLC grew its holdings in AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after purchasing an additional 38 shares during the period. Finally, Versant Capital Management Inc grew its holdings in AppLovin by 13.4% in the first quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $97,000 after purchasing an additional 43 shares during the period. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on APP. Citigroup restated a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. FBN Securities started coverage on shares of AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. Finally, UBS Group lifted their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $438.85.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 33,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total transaction of $12,318,698.00. Following the completion of the transaction, the chief executive officer now owns 2,760,363 shares of the company’s stock, valued at approximately $1,009,023,091.02. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 6,585 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the transaction, the insider now directly owns 357,903 shares of the company’s stock, valued at approximately $132,506,427.69. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,212,968 shares of company stock valued at $455,062,980 over the last quarter. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $333.78 on Friday. The company’s 50 day moving average is $343.55 and its 200-day moving average is $333.66. AppLovin Corporation has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. The firm has a market cap of $112.95 billion, a P/E ratio of 60.25, a price-to-earnings-growth ratio of 2.02 and a beta of 2.53.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. Sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.