AppLovin Corporation $APP Shares Bought by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd raised its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 11.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,611 shares of the company’s stock after buying an additional 28,727 shares during the quarter. AustralianSuper Pty Ltd owned about 0.08% of AppLovin worth $95,436,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hilltop National Bank purchased a new stake in shares of AppLovin during the second quarter worth $26,000. Hoey Investments Inc. purchased a new stake in shares of AppLovin during the second quarter worth $35,000. Trust Co. of Vermont purchased a new stake in shares of AppLovin during the second quarter worth $35,000. ORG Partners LLC grew its holdings in shares of AppLovin by 146.5% during the second quarter. ORG Partners LLC now owns 106 shares of the company’s stock worth $36,000 after buying an additional 63 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in shares of AppLovin during the first quarter worth $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 5.1%

Shares of APP opened at $620.00 on Monday. The stock has a market capitalization of $209.72 billion, a PE ratio of 88.07, a P/E/G ratio of 3.37 and a beta of 2.53. AppLovin Corporation has a 1 year low of $158.33 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The company’s 50-day simple moving average is $569.09 and its 200-day simple moving average is $425.20.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm’s revenue was up 77.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. Analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on APP shares. Piper Sandler upped their target price on shares of AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. UBS Group upped their price objective on shares of AppLovin from $540.00 to $810.00 and gave the company a “buy” rating in a report on Friday, September 26th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Finally, Scotiabank reissued an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $605.13.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the transaction, the insider directly owned 269,955 shares in the company, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the completion of the transaction, the director owned 181,929 shares in the company, valued at $78,682,473.21. This represents a 52.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock valued at $514,863,333 over the last three months. 13.66% of the stock is currently owned by insiders.

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.