AppLovin Corporation $APP is Board of the Pension Protection Fund’s 2nd Largest Position

Board of the Pension Protection Fund raised its stake in shares of AppLovin Corporation (NASDAQ:APP) by 5,500.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,600 shares of the company’s stock after buying an additional 5,500 shares during the period. AppLovin comprises approximately 2.1% of Board of the Pension Protection Fund’s holdings, making the stock its 2nd largest position. Board of the Pension Protection Fund’s holdings in AppLovin were worth $1,960,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vestcor Inc raised its stake in AppLovin by 0.8% during the 1st quarter. Vestcor Inc now owns 4,108 shares of the company’s stock valued at $1,088,000 after buying an additional 33 shares during the last quarter. Fortitude Family Office LLC raised its stake in AppLovin by 32.7% during the 2nd quarter. Fortitude Family Office LLC now owns 138 shares of the company’s stock valued at $48,000 after buying an additional 34 shares during the last quarter. GSG Advisors LLC raised its stake in AppLovin by 0.3% during the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company’s stock valued at $2,820,000 after buying an additional 35 shares during the last quarter. Argentarii LLC raised its stake in AppLovin by 1.5% during the 1st quarter. Argentarii LLC now owns 2,638 shares of the company’s stock valued at $699,000 after buying an additional 40 shares during the last quarter. Finally, Atlas Capital Advisors Inc. raised its stake in AppLovin by 11.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company’s stock valued at $104,000 after buying an additional 40 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APP has been the subject of a number of research reports. UBS Group boosted their target price on shares of AppLovin from $540.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Wells Fargo & Company set a $860.00 target price on shares of AppLovin in a research note on Wednesday. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. BTIG Research boosted their price objective on shares of AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Citigroup boosted their price objective on shares of AppLovin from $600.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $597.38.

AppLovin Trading Down 5.1%

Shares of APP stock opened at $569.89 on Friday. AppLovin Corporation has a 1 year low of $139.40 and a 1 year high of $745.61. The firm has a fifty day moving average price of $537.64 and a 200-day moving average price of $401.07. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market cap of $192.77 billion, a price-to-earnings ratio of 80.95, a PEG ratio of 3.09 and a beta of 2.53.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. AppLovin’s quarterly revenue was up 77.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the transaction, the chief technology officer owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 125,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares of the company’s stock, valued at $3,394,014,072. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock worth $514,863,333 in the last three months. Corporate insiders own 13.66% of the company’s stock.

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.