Pacer Advisors Inc. Grows Stake in AppLovin Corporation $APP

Pacer Advisors Inc. grew its position in AppLovin Corporation (NASDAQ:APP) by 49.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,347 shares of the company’s stock after buying an additional 50,107 shares during the quarter. Pacer Advisors Inc.’s holdings in AppLovin were worth $108,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of AppLovin in the second quarter valued at about $26,000. LFA Lugano Financial Advisors SA bought a new position in AppLovin during the 2nd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in AppLovin during the 2nd quarter valued at about $33,000. Heartwood Wealth Advisors LLC purchased a new position in AppLovin during the 3rd quarter valued at about $33,000. Finally, Hoey Investments Inc. bought a new stake in shares of AppLovin in the 2nd quarter valued at about $35,000. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the sale, the director directly owned 2,829 shares in the company, valued at approximately $1,961,402.28. This represents a 5.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 340,336 shares of company stock worth $200,062,623 in the last three months. Insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $726.39 on Friday. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61. The business’s fifty day simple moving average is $627.63 and its 200-day simple moving average is $520.03. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The company has a market cap of $245.49 billion, a PE ratio of 88.15, a PEG ratio of 3.90 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 68.2% on a year-over-year basis. Analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on APP shares. The Goldman Sachs Group increased their price objective on shares of AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Piper Sandler upped their target price on AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Benchmark lifted their price target on AppLovin from $700.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Phillip Securities raised AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. Finally, Royal Bank Of Canada raised their price objective on AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Nineteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $695.90.

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.