National Pension Service Purchases 158,267 Shares of AppLovin Co. (NASDAQ:APP)

National Pension Service grew its position in AppLovin Co. (NASDAQ:APP) by 45.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 506,167 shares of the company’s stock after acquiring an additional 158,267 shares during the period. National Pension Service owned 0.15% of AppLovin worth $66,080,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. DT Investment Partners LLC acquired a new position in AppLovin in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter valued at $29,000. HM Payson & Co. boosted its position in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin during the third quarter worth $42,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin during the second quarter worth $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APP has been the topic of a number of recent analyst reports. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Wedbush upgraded shares of AppLovin to a “strong-buy” rating in a report on Monday. Benchmark increased their target price on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the company from $103.00 to $150.00 in a report on Monday, October 14th. Finally, Wells Fargo & Company started coverage on AppLovin in a research note on Monday, October 28th. They set an “overweight” rating and a $200.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.78.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Vasily Shikin sold 5,500 shares of AppLovin stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00. Following the completion of the transaction, the chief technology officer now directly owns 4,536,447 shares in the company, valued at approximately $390,315,899.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock valued at $51,022,478 in the last 90 days. 14.69% of the stock is currently owned by insiders.

AppLovin Stock Performance

Shares of APP opened at $165.18 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $174.46. The firm has a fifty day simple moving average of $129.12 and a 200 day simple moving average of $97.33. The stock has a market capitalization of $55.21 billion, a price-to-earnings ratio of 70.29, a PEG ratio of 2.36 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company earned $0.22 EPS. AppLovin’s revenue for the quarter was up 44.0% compared to the same quarter last year. Research analysts forecast that AppLovin Co. will post 3.47 EPS for the current fiscal year.

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.