Elo Mutual Pension Insurance Co Acquires 2,484 Shares of AppLovin Co. (NASDAQ:APP)

Elo Mutual Pension Insurance Co raised its holdings in AppLovin Co. (NASDAQ:APP) by 13.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,629 shares of the company’s stock after buying an additional 2,484 shares during the period. Elo Mutual Pension Insurance Co’s holdings in AppLovin were worth $6,680,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in shares of AppLovin by 89.7% in the third quarter. Advisors Asset Management Inc. now owns 681 shares of the company’s stock valued at $89,000 after purchasing an additional 322 shares during the period. Great Valley Advisor Group Inc. raised its holdings in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares during the period. Cerity Partners LLC lifted its position in AppLovin by 36.3% during the third quarter. Cerity Partners LLC now owns 18,120 shares of the company’s stock worth $2,366,000 after acquiring an additional 4,822 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of AppLovin by 9,300.0% during the third quarter. Larson Financial Group LLC now owns 470 shares of the company’s stock worth $61,000 after acquiring an additional 465 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in shares of AppLovin in the third quarter valued at approximately $672,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the firm’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 completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock worth $106,401,841. Insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP stock 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 stock has a market cap of $88.97 billion, a price-to-earnings ratio of 57.64, a P/E/G ratio of 3.02 and a beta of 2.33. 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 company has a 50 day simple moving average of $353.26 and a 200 day simple moving average of $280.42.

AppLovin (NASDAQ:APP) last issued 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%. Research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Benchmark lifted their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Piper Sandler upped their price target on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Oppenheimer reaffirmed an “outperform” rating and set a $560.00 target price (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Finally, Macquarie lifted their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

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.