OMERS ADMINISTRATION Corp Has $5.53 Million Holdings in AppLovin Corporation $APP

OMERS ADMINISTRATION Corp grew its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 15.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 13,895 shares of the company’s stock after purchasing an additional 1,816 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in AppLovin were worth $5,530,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC bought a new stake in shares of AppLovin in the 1st quarter valued at $25,000. Washington Trust Advisors Inc. grew its stake in shares of 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 buying an additional 24 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in AppLovin in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC bought a new stake in AppLovin in the 4th quarter valued at about $32,000. Finally, First Pacific Financial acquired a new position in AppLovin during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the transaction, the director directly owned 6,785,087 shares in the company, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the transaction, the insider owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 in the last ninety days. 12.81% of the stock is owned by insiders.

AppLovin Stock Performance

AppLovin stock opened at $391.98 on Monday. AppLovin Corporation has a 1-year low of $357.03 and a 1-year high of $745.61. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $131.68 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 0.64 and a beta of 2.49. The firm’s 50 day simple moving average is $498.97 and its 200 day simple moving average is $479.01.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s quarterly revenue was up 58.9% compared to the same quarter last year. During the same period last year, the firm earned $1.67 EPS. As a group, analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on APP shares. Raymond James Financial assumed coverage on shares of AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price target for the company. BTIG Research reaffirmed a “buy” rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. KeyCorp set a $775.00 price objective on AppLovin in a research note on Wednesday, June 10th. Finally, Weiss Ratings cut AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

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.