AppLovin Co. (NASDAQ:APP) Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its stake in AppLovin Co. (NASDAQ:APP) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,167 shares of the company’s stock after purchasing an additional 1,656 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in AppLovin were worth $1,345,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in APP. American Trust increased its position in AppLovin by 2.8% during the 1st quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after purchasing an additional 150 shares in the last quarter. Highland Capital Management LLC lifted its position in AppLovin by 0.5% during the 1st quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock worth $1,946,000 after acquiring an additional 153 shares in the last quarter. GAMMA Investing LLC boosted its holdings in AppLovin by 13.6% in the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $89,000 after acquiring an additional 154 shares during the period. Cullen Frost Bankers Inc. grew its position in AppLovin by 10.3% in the second quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock valued at $184,000 after acquiring an additional 205 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of AppLovin by 9.5% during the second quarter. Signaturefd LLC now owns 2,489 shares of the company’s stock valued at $207,000 after purchasing an additional 215 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the sale, the director now owns 7,641,531 shares of the company’s stock, valued at approximately $693,468,938.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the transaction, the insider now directly owns 390,615 shares of the company’s stock, valued at approximately $33,225,711.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the sale, the director now owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 775,934 shares of company stock valued at $65,805,022. 14.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APP. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $145.00 in a research note on Tuesday. Benchmark lifted their target price on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Wedbush reduced their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, BTIG Research lifted their price objective on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.09.

AppLovin Stock Performance

Shares of APP opened at $126.09 on Friday. The stock has a market capitalization of $41.49 billion, a PE ratio of 75.05, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. The business’s fifty day moving average price is $87.10 and its 200 day moving average price is $79.83. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $128.19.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm posted $0.22 EPS. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. Equities research analysts forecast that AppLovin Co. will post 3.46 EPS for the current year.

AppLovin Profile

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.