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

PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of AppLovin Corporation (NASDAQ:APP) in the fourth quarter, Holdings Channel reports. The institutional investor bought 9,350 shares of the company’s stock, valued at approximately $6,300,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APP. Board of the Pension Protection Fund acquired a new stake in AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. increased its position in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in AppLovin in the 4th quarter valued at about $32,000. CBIZ Investment Advisory Services LLC increased its position in AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares in the last quarter. Finally, Graney & King LLC acquired a new stake in AppLovin in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a “neutral” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

AppLovin Stock Down 0.3%

Shares of NASDAQ:APP opened at $557.20 on Friday. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The company has a 50 day moving average of $470.43 and a 200-day moving average of $521.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market cap of $187.19 billion, a price-to-earnings ratio of 47.87, a P/E/G ratio of 0.91 and a beta of 2.45.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company earned $1.67 EPS. AppLovin’s revenue was up 58.9% on a year-over-year basis. On average, sell-side analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 2,889 shares of AppLovin stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $488.90, for a total transaction of $1,412,432.10. Following the completion of the sale, the chief technology officer owned 17,945 shares in the company, valued at $8,773,310.50. The trade was a 13.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the sale, the director owned 123,520 shares of the company’s stock, valued at approximately $71,893,580.80. This represents a 2.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 467,092 shares of company stock worth $220,268,340 over the last 90 days. 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.