OMERS ADMINISTRATION Corp Has $4.63 Million Stock Position in AppLovin Co. (NASDAQ:APP)

OMERS ADMINISTRATION Corp trimmed its position in AppLovin Co. (NASDAQ:APP - Free Report) by 70.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,285 shares of the company's stock after selling 33,990 shares during the period. OMERS ADMINISTRATION Corp's holdings in AppLovin were worth $4,626,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in APP. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the fourth quarter worth $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin during the fourth quarter worth approximately $25,000. Riverview Trust Co boosted its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new position in shares of AppLovin in the 4th quarter valued at about $28,000. Finally, Hemington Wealth Management grew its holdings in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ:APP traded down $4.27 during trading on Friday, reaching $362.34. The company had a trading volume of 4,689,782 shares, compared to its average volume of 6,016,246. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market capitalization of $123.18 billion, a PE ratio of 79.81, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm's fifty day moving average is $283.05 and its 200 day moving average is $316.16.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm's revenue for the quarter was up 40.3% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. On average, equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the sale, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This trade represents a 24.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,119,470 shares of company stock valued at $409,752,180 over the last three months. Insiders own 14.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Benchmark reiterated a "buy" rating and issued a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Piper Sandler boosted their price target on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Loop Capital restated a "buy" rating and set a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Finally, Morgan Stanley lifted their price objective on AppLovin from $350.00 to $420.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $433.85.

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.