National Pension Service Buys 27,701 Shares of AppLovin Corporation $APP

National Pension Service grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 586,028 shares of the company’s stock after purchasing an additional 27,701 shares during the quarter. National Pension Service owned approximately 0.18% of AppLovin worth $301,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in AppLovin by 50,874.8% during the 2nd quarter. California State Teachers Retirement System now owns 178,017,633 shares of the company’s stock valued at $91,720,025,000 after buying an additional 177,668,406 shares during the period. State Street Corp raised its stake in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after acquiring an additional 6,237,051 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of AppLovin by 3,118.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock worth $2,826,049,000 after purchasing an additional 4,063,763 shares during the period. Norges Bank purchased a new stake in shares of AppLovin during the fourth quarter worth about $2,040,321,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of AppLovin during the second quarter worth about $730,015,000. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on APP. Wedbush reduced their price target on AppLovin from $640.00 to $610.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Bank of America reiterated a “neutral” rating and issued a $400.00 price objective (down from $430.00) on shares of AppLovin in a report on Tuesday, August 11th. Evercore reiterated an “outperform” rating and issued a $510.00 price objective on shares of AppLovin in a research report on Tuesday, September 1st. Wells Fargo & Company reduced their target price on AppLovin from $357.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Finally, KeyCorp set a $775.00 target price on AppLovin in a report on Wednesday, June 10th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $538.09.

AppLovin Stock Down 2.2%

APP stock opened at $305.06 on Thursday. The company has a market capitalization of $102.09 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 0.66 and a beta of 2.49. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The business’s 50 day moving average price is $381.77 and its two-hundred day moving average price is $438.82. AppLovin Corporation has a fifty-two week low of $297.50 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, meeting the consensus estimate of $3.76. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%.The firm’s revenue was up 52.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.39 earnings per share. As a group, analysts forecast that AppLovin Corporation will post 15.53 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Foroughi sold 22,544 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer owned 2,327,684 shares in the company, valued at approximately $1,152,157,026.32. The trade was a 0.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director G Jr sold 3,076 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the sale, the director directly owned 120,444 shares in the company, valued at $62,786,252.76. This represents a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 208,653 shares of company stock valued at $104,600,460. 12.81% of the stock is currently owned by company insiders.

AppLovin Profile

AppLovin Corporation (NASDAQ: APP) is a technology company that provides software and services designed to help mobile application developers grow their businesses. Its platform supports user acquisition, advertising, monetization, measurement and other functions that enable developers to attract users and generate revenue from their applications.

AppLovin’s offerings include AXON, an artificial-intelligence-powered software engine used to optimize advertising and user-acquisition campaigns; MAX, a platform for managing in-app advertising and mediation; and AppDiscovery, which helps developers promote their applications.