Elo Mutual Pension Insurance Co Has $6.68 Million Stake in AppLovin Co. (NASDAQ:APP)

Elo Mutual Pension Insurance Co lifted its position in AppLovin Co. (NASDAQ:APP) by 13.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,629 shares of the company’s stock after acquiring an additional 2,484 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in AppLovin were worth $6,680,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. SVB Wealth LLC bought a new stake in AppLovin during the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. lifted its position in shares of AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of AppLovin in the fourth quarter worth $535,070,000. Finally, Jennison Associates LLC purchased a new position in shares of AppLovin in the fourth quarter valued at $414,462,000. 41.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on APP shares. JPMorgan Chase & Co. raised their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Stifel Nicolaus raised their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. Loop Capital raised their price target on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Bank of America upped their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Stock Down 20.1 %

Shares of APP opened at $261.70 on Friday. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a 50 day simple moving average of $353.26 and a two-hundred day simple moving average of $280.42. The firm has a market cap of $88.97 billion, a P/E ratio of 57.64, a P/E/G ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by insiders.

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.