AppLovin Co. (NASDAQ:APP) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its stake in shares of AppLovin Co. (NASDAQ:APP) by 11.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,167 shares of the company’s stock after purchasing an additional 1,656 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in AppLovin were worth $1,345,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. FinTrust Capital Advisors LLC acquired a new stake in AppLovin in the fourth quarter worth approximately $32,000. Quest Partners LLC bought a new stake in shares of AppLovin in the 2nd quarter worth $33,000. Covestor Ltd lifted its holdings in shares of AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in AppLovin during the second quarter valued at about $37,000. Finally, Atlas Capital Advisors LLC bought a new position in AppLovin during the first quarter valued at about $38,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 775,934 shares of company stock valued at $65,805,022. Insiders own 14.69% of the company’s stock.

AppLovin Trading Up 1.7 %

Shares of NASDAQ APP opened at $126.09 on Friday. The firm has a market capitalization of $41.49 billion, a PE ratio of 75.05, a PEG ratio of 1.41 and a beta of 1.88. AppLovin Co. has a one year low of $34.45 and a one year high of $128.19. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The business has a 50-day moving average price of $87.10 and a two-hundred day moving average price of $79.83.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue was up 44.0% on a year-over-year basis. As a group, analysts predict that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of a number of research analyst reports. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the company from $100.00 to $145.00 in a report on Tuesday. Wedbush cut their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America upped their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Citigroup raised their price objective on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $105.00 target price (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $103.09.

About AppLovin

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.