Principal Financial Group Inc. Has $234.96 Million Holdings in AppLovin Corporation $APP

Principal Financial Group Inc. boosted its stake in AppLovin Corporation (NASDAQ:APP) by 946.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,999 shares of the company’s stock after purchasing an additional 295,753 shares during the period. Principal Financial Group Inc.’s holdings in AppLovin were worth $234,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC acquired a new stake in shares of AppLovin in the third quarter valued at about $274,000. Hazlett Burt & Watson Inc. increased its stake in AppLovin by 151.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 364 shares of the company’s stock valued at $261,000 after purchasing an additional 219 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in AppLovin by 1,800.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 180,016 shares of the company’s stock worth $129,349,000 after purchasing an additional 170,543 shares in the last quarter. Donaldson Capital Management LLC grew its stake in shares of AppLovin by 30.7% in the 3rd quarter. Donaldson Capital Management LLC now owns 14,084 shares of the company’s stock worth $10,120,000 after acquiring an additional 3,309 shares in the last quarter. Finally, Independent Advisor Alliance grew its holdings in shares of AppLovin by 15.5% in the third quarter. Independent Advisor Alliance now owns 3,613 shares of the company’s stock valued at $2,596,000 after acquiring an additional 486 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Down 16.9%

Shares of APP stock opened at $473.11 on Monday. The company has a 50 day simple moving average of $635.34 and a two-hundred day simple moving average of $568.77. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The stock has a market cap of $159.89 billion, a P/E ratio of 57.42, a P/E/G ratio of 1.56 and a beta of 2.49.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm’s revenue was up 68.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 EPS. On average, research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group set a $800.00 price objective on AppLovin in a report on Tuesday, January 13th. Oppenheimer set a $740.00 price target on AppLovin in a research report on Tuesday, October 7th. BTIG Research reiterated a “buy” rating and issued a $771.00 price objective on shares of AppLovin in a report on Wednesday, December 17th. Jefferies Financial Group boosted their price target on AppLovin from $800.00 to $860.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft set a $705.00 price objective on AppLovin and gave the company a “buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $706.45.

Insider Buying and Selling at AppLovin

In related news, Director Eduardo Vivas sold 150,000 shares of AppLovin stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $650.91, for a total value of $97,636,500.00. Following the completion of the transaction, the director owned 7,133,292 shares in the company, valued at approximately $4,643,131,095.72. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 340,336 shares of company stock valued at $200,062,623 in the last 90 days. Insiders own 13.66% of the company’s stock.

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.