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

PFA Pension Forsikringsaktieselskab bought a new stake in shares of AppLovin Corporation (NASDAQ:APP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 143,675 shares of the company’s stock, valued at approximately $99,669,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in AppLovin by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after acquiring an additional 166,117 shares during the period. State Street Corp raised its holdings in AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after acquiring an additional 6,237,051 shares during the period. Invesco Ltd. raised its holdings in AppLovin by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock valued at $3,084,514,000 after acquiring an additional 367,083 shares during the period. Jennison Associates LLC raised its holdings in AppLovin by 55.2% during the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after acquiring an additional 1,381,970 shares during the period. Finally, Kensico Capital Management Corp raised its holdings in AppLovin by 3.1% during the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock valued at $2,240,767,000 after acquiring an additional 95,000 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $460.00 on Friday. The company has a 50-day simple moving average of $437.77 and a two-hundred day simple moving average of $536.27. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 12-month low of $286.85 and a 12-month high of $745.61. The firm has a market cap of $155.15 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 0.78 and a beta of 2.37.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The company’s revenue was up 66.0% on a year-over-year basis. On average, equities analysts forecast that AppLovin Corporation will post 15.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APP shares. BTIG Research lowered their target price on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Jefferies Financial Group decreased their price target on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Weiss Ratings cut shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Finally, The Goldman Sachs Group decreased their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $673.25.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 5,231 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were 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 represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 40,704 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $459.85, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 over the last three months. 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.