Healthcare of Ontario Pension Plan Trust Fund Cuts Stock Position in AppLovin Corporation $APP

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its AppLovin stake by 7.0% in Q1, selling 7,345 shares and ending with 97,554 shares valued at about $38.8 million.
• Insider selling has been notable recently: executives and directors sold 393,000 shares worth roughly $197.3 million over the last 90 days, including large sales by Victoria Valenzuela and Eduardo Vivas.
• AppLovin reported strong Q1 results, with EPS of $3.56 and revenue of $1.84 billion, both beating estimates, while analysts currently rate the stock a Moderate Buy with an average price target of $668.45.

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 quarter.

Other institutional investors have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC purchased a new stake in shares of AppLovin during the 1st quarter valued at about $25,000. Washington Trust Advisors Inc. lifted its holdings in shares of AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company's stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new position in AppLovin in the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC purchased a new position in AppLovin in the fourth quarter worth about $32,000. Finally, First Pacific Financial bought a new stake in AppLovin during the first quarter worth approximately $33,000. Institutional investors own 41.85% of the company's stock.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the sale, the director directly owned 6,785,087 shares of the company's stock, valued at $3,420,090,953.22. This represents a 2.36% 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 90 days. Corporate insiders own 12.81% of the company's stock.

AppLovin Price Performance

Shares of APP stock opened at $391.98 on Friday. The stock has a 50 day moving average price of $498.97 and a 200 day moving average price of $480.08. AppLovin Corporation has a 52-week low of $357.03 and a 52-week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. 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 - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business's revenue was up 58.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 earnings per share. As a group, sell-side analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley restated an "overweight" rating on shares of AppLovin in a research report on Wednesday, May 27th. Wedbush reissued an "outperform" rating and set a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Piper Sandler reissued an "overweight" rating on shares of AppLovin in a research report on Tuesday, July 7th. Citigroup restated a "buy" rating on shares of AppLovin in a report on Monday, June 22nd. Finally, Weiss Ratings downgraded AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $668.45.

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.

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