Mutual of America Capital Management LLC Takes $21.08 Million Position in AppLovin Corporation $APP

Mutual of America Capital Management LLC acquired a new position in AppLovin Corporation (NASDAQ:APP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 APP. Norges Bank acquired a new stake in AppLovin during the 2nd quarter worth about $951,541,000. Rakuten Investment Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter valued at about $1,456,108,000. Jennison Associates LLC boosted its stake in shares of AppLovin by 55.2% in the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock worth $2,792,355,000 after buying an additional 1,381,970 shares during the last quarter. National Pension Service grew its holdings in AppLovin by 82.2% during the second quarter. National Pension Service now owns 790,271 shares of the company’s stock worth $276,658,000 after acquiring an additional 356,443 shares during the period. Finally, Voya Investment Management LLC grew its holdings in AppLovin by 235.5% during the third quarter. Voya Investment Management LLC now owns 496,560 shares of the company’s stock worth $356,800,000 after acquiring an additional 348,548 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

APP opened at $524.41 on Monday. The firm’s fifty day simple moving average is $634.79 and its two-hundred day simple moving average is $562.31. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The company has a market cap of $177.22 billion, a price-to-earnings ratio of 63.64, a PEG ratio of 1.73 and a beta of 2.50. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38.

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

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction 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 transaction, the director owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the sale, the insider owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. 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 90 days. 13.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on APP shares. UBS Group set a $800.00 price target on AppLovin in a report on Tuesday, January 13th. Royal Bank Of Canada lifted their target price on shares of AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Citigroup lowered their price target on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Benchmark raised their price target on shares of AppLovin from $700.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Phillip Securities upgraded shares of AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $706.76.

AppLovin Profile

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.