PBU The Pension Fund of Early Childhood & Youth Educators Purchases Shares of 9,350 AppLovin Corporation $APP

Key Points

• PBU The Pension Fund of Early Childhood & Youth Educators disclosed a new fourth-quarter stake in AppLovin, buying 9,350 shares valued at about $6.3 million.
• Other institutional investors have also been adding to AppLovin, and the stock remains widely held by institutions, which now own 41.85% of the company.
• AppLovin reported strong quarterly results, with EPS of $3.56 and revenue of $1.84 billion, both above estimates; analysts currently rate the stock Moderate Buy with an average price target of $664.35.

PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,350 shares of the company's stock, valued at approximately $6,300,000.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in AppLovin by 131.7% in the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company's stock valued at $4,347,000 after purchasing an additional 3,438 shares during the period. APG Asset Management N.V. bought a new stake in AppLovin in the 3rd quarter valued at $4,958,000. Metis Global Partners LLC boosted its holdings in AppLovin by 138.3% in the 3rd quarter. Metis Global Partners LLC now owns 10,094 shares of the company's stock valued at $7,253,000 after purchasing an additional 5,859 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in AppLovin by 35.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,831 shares of the company's stock valued at $19,998,000 after purchasing an additional 7,271 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in AppLovin by 24.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company's stock valued at $1,754,996,000 after purchasing an additional 487,492 shares during the period. 41.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APP has been the subject of a number of analyst reports. Benchmark reaffirmed a "buy" rating on shares of AppLovin in a report on Friday, March 6th. The Goldman Sachs Group reduced their price objective on shares of AppLovin from $710.00 to $585.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. Scotiabank raised their price objective on shares of AppLovin from $750.00 to $775.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Jefferies Financial Group reduced their price objective on shares of AppLovin from $860.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $500.00 to $515.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $664.35.

AppLovin Price Performance

NASDAQ:APP opened at $557.20 on Friday. The company has a 50-day moving average of $470.43 and a 200-day moving average of $521.43. The company has a market capitalization of $187.19 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.91 and a beta of 2.45. AppLovin Corporation has a 52 week low of $320.00 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.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm's revenue for the quarter was up 58.9% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. As a group, equities research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. This trade represents a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the sale, the director owned 6,969,382 shares of the company's stock, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 467,092 shares of company stock worth $220,268,340 over the last ninety days. Company insiders own 13.66% of the company's stock.

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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