BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 164 Shares of AppLovin Corporation $APP

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in AppLovin Corporation (NASDAQ:APP) by 0.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,982 shares of the company’s stock after acquiring an additional 164 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AppLovin were worth $10,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dynasty Wealth Management LLC raised its position in shares of AppLovin by 117,664.4% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company’s stock valued at $716,133,000 after buying an additional 2,700,399 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after purchasing an additional 1,769,400 shares during the period. Vanguard Group Inc. raised its position in AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock valued at $4,724,594,000 after purchasing an additional 1,213,536 shares during the period. Baillie Gifford & Co. lifted its stake in shares of AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after purchasing an additional 1,185,859 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of AppLovin by 86.5% in the 1st quarter. Jennison Associates LLC now owns 2,386,980 shares of the company’s stock worth $632,478,000 after purchasing an additional 1,107,104 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $464.69, for a total value of $92,938,000.00. Following the transaction, the director owned 381,929 shares in the company, valued at approximately $177,478,587.01. This represents a 34.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,221,152 shares of company stock worth $538,490,378 in the last ninety days. 13.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of several recent research reports. Scotiabank increased their price target on AppLovin from $430.00 to $450.00 and gave the company a “sector outperform” rating in a report on Thursday, August 7th. Wall Street Zen downgraded shares of AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. The Goldman Sachs Group lifted their price target on shares of AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Piper Sandler raised their price objective on shares of AppLovin from $470.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $472.86.

AppLovin Trading Up 5.5%

APP stock opened at $441.68 on Monday. AppLovin Corporation has a 12 month low of $82.51 and a 12 month high of $525.15. The firm’s 50-day moving average is $375.38 and its 200 day moving average is $344.73. The company has a market capitalization of $149.40 billion, a PE ratio of 62.74, a P/E/G ratio of 2.47 and a beta of 2.43. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin Company Profile

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.