Board of the Pension Protection Fund Buys Shares of 6,600 AppLovin Co. (NASDAQ:APP)

Board of the Pension Protection Fund bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,600 shares of the company's stock, valued at approximately $2,137,000. AppLovin comprises about 2.5% of Board of the Pension Protection Fund's holdings, making the stock its biggest position.

Several other hedge funds also recently bought and sold shares of APP. Capital Performance Advisors LLP acquired a new position in AppLovin in the 3rd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the third quarter valued at $27,000. DT Investment Partners LLC purchased a new position in AppLovin during the third quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin in the 3rd quarter worth about $29,000. Finally, HM Payson & Co. grew its holdings in AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company's stock valued at $39,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Up 4.3 %

AppLovin stock traded up $13.94 during midday trading on Wednesday, hitting $335.03. 3,822,736 shares of the stock were exchanged, compared to its average volume of 4,317,156. AppLovin Co. has a 1 year low of $39.43 and a 1 year high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $112.43 billion, a P/E ratio of 101.52, a P/E/G ratio of 4.17 and a beta of 2.29. The company has a 50 day moving average price of $324.66 and a two-hundred day moving average price of $184.47.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company's revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 earnings per share. On average, sell-side analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APP has been the topic of several research analyst reports. Piper Sandler initiated coverage on shares of AppLovin in a research report on Wednesday, November 20th. They issued an "overweight" rating and a $400.00 target price on the stock. Citigroup lifted their price target on shares of AppLovin from $335.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, December 5th. UBS Group upgraded AppLovin from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their target price on AppLovin from $200.00 to $325.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Finally, Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $338.06.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 500 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now directly owns 6,684 shares of the company's stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares of the company's stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by insiders.

AppLovin 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.