Nisa Investment Advisors LLC Buys 21,694 Shares of AppLovin Corporation $APP

Nisa Investment Advisors LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 97.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,988 shares of the company’s stock after acquiring an additional 21,694 shares during the quarter. Nisa Investment Advisors LLC’s holdings in AppLovin were worth $29,640,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in AppLovin by 39.4% during the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after purchasing an additional 7,051,663 shares during the last quarter. State Street Corp raised its holdings in AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after buying an additional 6,237,051 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in shares of AppLovin in the third quarter worth approximately $1,456,108,000. Jennison Associates LLC grew its holdings in shares of AppLovin by 55.2% during the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after buying an additional 1,381,970 shares during the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of AppLovin during the third quarter valued at approximately $743,899,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $398.00 on Wednesday. The stock has a market capitalization of $134.24 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 0.64 and a beta of 2.51. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The business’s fifty day moving average price is $448.49 and its 200-day moving average price is $566.97.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. AppLovin’s revenue for the quarter was up 66.0% compared to the same quarter last year. On average, equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of recent analyst reports. Evercore restated a “buy” rating on shares of AppLovin in a report on Friday, January 30th. Piper Sandler reissued an “overweight” rating and issued a $650.00 target price (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Wells Fargo & Company lowered their price target on AppLovin from $735.00 to $543.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Oppenheimer dropped their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Finally, Weiss Ratings downgraded AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.20.

Insider Transactions at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the sale, the chief executive officer directly owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock worth $169,584,607 in the last quarter. Company insiders own 13.66% of the company’s stock.

About AppLovin

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.