PGGM Investments Has $6.15 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

PGGM Investments increased its position in shares of AppLovin Co. (NASDAQ:APP) by 493.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,976 shares of the company’s stock after buying an additional 15,776 shares during the quarter. PGGM Investments’ holdings in AppLovin were worth $6,145,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in APP. Assetmark Inc. increased its holdings in shares of AppLovin by 131.8% during the third quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock valued at $1,258,000 after acquiring an additional 5,480 shares in the last quarter. Atria Investments Inc acquired a new stake in AppLovin in the 3rd quarter valued at $574,000. Axxcess Wealth Management LLC bought a new stake in AppLovin during the 3rd quarter valued at $572,000. Crossmark Global Holdings Inc. acquired a new position in AppLovin during the third quarter worth $289,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of AppLovin by 37.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 498,534 shares of the company’s stock valued at $65,084,000 after buying an additional 134,645 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 322,871 shares of company stock worth $111,401,882. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Down 0.2 %

APP stock opened at $272.00 on Friday. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The stock has a fifty day moving average of $358.15 and a 200-day moving average of $265.29. The company has a market capitalization of $92.47 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APP has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. The Goldman Sachs Group increased their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Loop Capital lifted their target price on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup upped their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Stifel Nicolaus raised their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $438.28.

AppLovin 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.