Board of the Pension Protection Fund Boosts Stock Holdings in AppLovin Corporation $APP

Key Points

• The Pension Protection Fund significantly increased its holdings in AppLovin Corporation by 5,500%, acquiring a total of 5,600 shares now valued at approximately $1.96 million.
• Various institutional investors have also boosted their stakes in AppLovin, with one firm, Wealth Enhancement Advisory Services, increasing its holdings by 62.7% during the first quarter.
• AppLovin reported earnings of $2.26 per share for the recent quarter, exceeding analyst expectations, and has a projected average price target of $597.38.

Board of the Pension Protection Fund increased its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 5,500.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,600 shares of the company's stock after purchasing an additional 5,500 shares during the quarter. AppLovin makes up approximately 2.1% of Board of the Pension Protection Fund's holdings, making the stock its 2nd largest holding. Board of the Pension Protection Fund's holdings in AppLovin were worth $1,960,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kingswood Wealth Advisors LLC grew its stake in shares of AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in AppLovin by 62.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after acquiring an additional 66,453 shares in the last quarter. Park Avenue Securities LLC boosted its position in AppLovin by 30.6% during the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company's stock valued at $7,313,000 after acquiring an additional 4,890 shares in the last quarter. Yousif Capital Management LLC boosted its position in AppLovin by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after acquiring an additional 119 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in AppLovin by 15.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company's stock valued at $15,827,000 after acquiring an additional 6,104 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 30,000 shares of the business's stock in a transaction that occurred 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 directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. The trade was a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was 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 of the company's stock, valued at approximately $78,682,473.21. The trade was a 52.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock worth $514,863,333 over the last 90 days. 13.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APP. Jefferies Financial Group lifted their price objective on AppLovin from $560.00 to $615.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Morgan Stanley lifted their price objective on AppLovin from $480.00 to $750.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. Wells Fargo & Company set a $860.00 price objective on AppLovin in a research report on Wednesday. Bank of America lifted their price objective on AppLovin from $580.00 to $860.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Finally, Benchmark lifted their price objective on AppLovin from $525.00 to $640.00 and gave the company a "buy" rating in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average price target of $597.38.

AppLovin Stock Down 5.1%

NASDAQ:APP opened at $569.89 on Friday. The firm has a market cap of $192.77 billion, a P/E ratio of 80.95, a P/E/G ratio of 3.09 and a beta of 2.53. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a fifty-two week low of $139.40 and a fifty-two week high of $745.61. The firm has a 50-day simple moving average of $537.64 and a two-hundred day simple moving average of $401.07.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. AppLovin's revenue was up 77.1% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. Analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin Company 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.

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