PFA Pension Forsikringsaktieselskab Acquires Shares of 143,675 AppLovin Corporation $APP

Key Points

• PFA Pension acquired a new stake of 143,675 shares of AppLovin (NASDAQ:APP) in Q4, valued at approximately $99.67 million.
• AppLovin posted a strong quarter, beating EPS estimates with $3.24 vs. $2.89 expected and reporting $1.66 billion in revenue (up 66% year-over-year), alongside a 57.42% net margin and 245.64% return on equity.
• Company insiders have been selling shares recently (CEO Arash Foroughi sold 40,704 shares for about $18.7 million), while insiders own 13.66% of the stock and institutional investors hold 41.85%.

PFA Pension Forsikringsaktieselskab acquired a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 143,675 shares of the company's stock, valued at approximately $99,669,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazard Freres Gestion S.A.S. acquired a new position in AppLovin during the 3rd quarter valued at about $2,514,000. Mediolanum International Funds Ltd boosted its stake in AppLovin by 73.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company's stock valued at $54,664,000 after purchasing an additional 32,510 shares during the last quarter. Thames Capital Management LLC boosted its stake in AppLovin by 114.8% during the 3rd quarter. Thames Capital Management LLC now owns 16,702 shares of the company's stock valued at $12,001,000 after purchasing an additional 8,925 shares during the last quarter. CIBC Asset Management Inc boosted its stake in AppLovin by 14.8% during the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company's stock valued at $84,160,000 after purchasing an additional 15,074 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in AppLovin by 131.7% during 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 last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Trading Up 3.1%

NASDAQ:APP opened at $460.00 on Friday. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $155.15 billion, a PE ratio of 47.18, a price-to-earnings-growth ratio of 0.78 and a beta of 2.37. The firm's 50 day moving average is $437.77 and its 200 day moving average is $536.27. AppLovin Corporation has a 12 month low of $286.85 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. AppLovin's revenue was up 66.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. Sell-side analysts expect that AppLovin Corporation will post 15.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 40,704 shares of AppLovin stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $459.85, for a total value of $18,717,734.40. Following the sale, the chief executive officer owned 2,430,414 shares of the company's stock, valued at approximately $1,117,625,877.90. The trade was a 1.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the completion of the sale, the chief technology officer directly owned 30,658 shares in the company, valued at $14,638,275.26. This trade represents a 14.58% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on APP. Evercore reiterated a "buy" rating on shares of AppLovin in a research note on Friday, January 30th. UBS Group set a $740.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Jefferies Financial Group dropped their target price on shares of AppLovin from $860.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Piper Sandler reissued an "overweight" rating and set a $650.00 target price (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Finally, Weiss Ratings cut shares of AppLovin from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $673.25.

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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