Intact Investment Management Inc. Takes $1.29 Million Position in AppLovin Corporation $APP

Intact Investment Management Inc. purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,800 shares of the company’s stock, valued at approximately $1,293,000.

Other large investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its position in shares of AppLovin by 31.5% in the second quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company’s stock valued at $1,627,000 after acquiring an additional 1,114 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in AppLovin during the 3rd quarter worth about $2,514,000. Thames Capital Management LLC raised its stake in AppLovin by 114.8% in the 3rd quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock valued at $12,001,000 after purchasing an additional 8,925 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in AppLovin by 14.8% in the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after purchasing an additional 15,074 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in AppLovin by 118.0% in the 3rd quarter. Rakuten Securities Inc. now owns 10,540 shares of the company’s stock valued at $7,573,000 after purchasing an additional 5,705 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

AppLovin stock opened at $535.44 on Tuesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The company has a market cap of $180.95 billion, a price-to-earnings ratio of 64.98, a price-to-earnings-growth ratio of 1.73 and a beta of 2.50. The stock’s 50-day moving average is $634.72 and its 200-day moving average is $563.64.

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

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 4,069 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $497.50, for a total value of $2,024,327.50. Following the completion of the sale, the chief executive officer directly owned 2,998,948 shares in the company, valued at approximately $1,491,976,630. This represents a 0.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the transaction, the chief technology officer owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. This represents a 0.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 340,336 shares of company stock valued at $200,062,623 in the last quarter. Company insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Zacks Research upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Oppenheimer set a $740.00 price target on AppLovin in a report on Tuesday, October 7th. Phillip Securities raised AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Finally, UBS Group set a $800.00 price objective on AppLovin in a report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $706.45.

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.