Mutual of America Capital Management LLC Makes New $21.08 Million Investment in AppLovin Corporation $APP

Mutual of America Capital Management LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 29,341 shares of the company’s stock, valued at approximately $21,083,000.

Several other institutional investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $294,000. Bison Wealth LLC acquired a new position in AppLovin in the fourth quarter valued at about $239,000. Integrated Wealth Concepts LLC increased its position in shares of AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after acquiring an additional 621 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of AppLovin by 80.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,425 shares of the company’s stock worth $499,000 after acquiring an additional 635 shares during the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in shares of AppLovin during the 2nd quarter worth approximately $134,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America raised their price target on AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft set a $705.00 price objective on shares of AppLovin and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Benchmark upped their target price on shares of AppLovin from $700.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Phillip Securities upgraded shares of AppLovin to a “moderate buy” rating in a report on Monday, September 29th. Finally, Weiss Ratings cut shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $706.76.

AppLovin Stock Performance

NASDAQ:APP opened at $524.41 on Monday. The firm has a market capitalization of $177.22 billion, a PE ratio of 63.64, a price-to-earnings-growth ratio of 1.73 and a beta of 2.50. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The business’s fifty day moving average price is $634.79 and its 200 day moving average price is $562.31. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The business’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS. On average, sell-side analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, Director Eduardo Vivas sold 150,000 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total value of $97,636,500.00. Following the completion of the transaction, the director owned 7,133,292 shares in the company, valued at $4,643,131,095.72. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 27,143 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the transaction, the chief technology officer directly owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 340,336 shares of company stock worth $200,062,623. Corporate insiders own 13.66% of the company’s stock.

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.