National Pension Service Sells 9,839 Shares of AppLovin Corporation (NASDAQ:APP)

National Pension Service reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,828 shares of the company’s stock after selling 9,839 shares during the period. National Pension Service owned 0.13% of AppLovin worth $114,951,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of APP. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at about $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin in the first quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin in the first quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin in the first quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of AppLovin in the first quarter valued at about $29,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

APP opened at $446.40 on Thursday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 12 month low of $80.14 and a 12 month high of $525.15. The company has a fifty day simple moving average of $370.02 and a 200 day simple moving average of $342.07. The stock has a market cap of $151.06 billion, a P/E ratio of 63.41, a P/E/G ratio of 2.61 and a beta of 2.43.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The firm’s quarterly revenue was up 77.1% on a year-over-year basis. On average, research analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on AppLovin from $405.00 to $480.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. The Goldman Sachs Group lifted their target price on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. BTIG Research lifted their target price on AppLovin from $480.00 to $483.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Morgan Stanley lifted their target price on AppLovin from $460.00 to $480.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Wedbush reissued an “outperform” rating and set a $620.00 target price on shares of AppLovin in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $472.33.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 6,599 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $369.35, for a total value of $2,437,340.65. Following the completion of the transaction, the insider directly owned 344,256 shares of the company’s stock, valued at approximately $127,150,953.60. This represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $367.51, for a total transaction of $36,751,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,760,363 shares of the company’s stock, valued at approximately $1,014,461,006.13. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 400,398 shares of company stock worth $151,712,641. Company insiders own 13.66% of the company’s stock.

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.