AppLovin Corporation $APP Shares Bought by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan grew its position in shares of AppLovin Corporation (NASDAQ:APP) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,820 shares of the company’s stock after purchasing an additional 1,440 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in AppLovin were worth $4,595,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new position in AppLovin during the fourth quarter worth $27,000. Washington Trust Advisors Inc. lifted its stake in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Chilton Capital Management LLC acquired a new position in AppLovin during the third quarter worth $29,000. Activest Wealth Management lifted its position in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the fourth quarter valued at approximately $32,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 5,231 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares of the company’s stock, valued at $14,638,275.26. This trade represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 365,244 shares of company stock valued at $169,584,607 over the last 90 days. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Up 3.3%

Shares of NASDAQ:APP opened at $501.00 on Friday. The firm’s 50 day moving average price is $447.26 and its 200 day moving average price is $529.13. The stock has a market cap of $168.31 billion, a price-to-earnings ratio of 43.04, a price-to-earnings-growth ratio of 0.81 and a beta of 2.37. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm’s revenue was up 58.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 earnings per share. As a group, equities research analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on APP shares. Morgan Stanley set a $720.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Argus assumed coverage on shares of AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price on the stock. Arete Research set a $340.00 target price on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Scotiabank increased their target price on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Weiss Ratings cut AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

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.