Healthcare of Ontario Pension Plan Trust Fund Sells 7,345 Shares of AppLovin Corporation $APP

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 7.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 97,554 shares of the company’s stock after selling 7,345 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in AppLovin were worth $38,826,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of APP. Cassaday & Co Wealth Management LLC purchased a new stake in shares of AppLovin in the 1st quarter worth approximately $25,000. Washington Trust Advisors Inc. increased its holdings in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares during the period. Mcguire Capital Advisors Inc. bought a new position in AppLovin in the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in AppLovin during the fourth quarter worth $32,000. Finally, First Pacific Financial bought a new stake in AppLovin during the 1st quarter valued at $33,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Argus started coverage on AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. Raymond James Financial started coverage on AppLovin in a research note on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company increased their price target on shares of AppLovin from $571.00 to $575.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $668.45.

AppLovin Trading Down 1.7%

Shares of NASDAQ:APP opened at $391.98 on Friday. The business’s 50-day moving average is $498.97 and its 200 day moving average is $480.08. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 1 year low of $357.03 and a 1 year high of $745.61. The firm has a market capitalization of $131.68 billion, a P/E ratio of 33.68, a P/E/G ratio of 0.64 and a beta of 2.49.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $1.67 earnings per share. The company’s quarterly revenue was up 58.9% on a year-over-year basis. On average, research analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 22,544 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the completion of the transaction, the chief executive officer directly owned 2,327,684 shares of the company’s stock, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 393,000 shares of company stock worth $197,297,363 over the last ninety days. Company insiders own 12.81% of the company’s stock.

About AppLovin

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.