Industrial Alliance Investment Management Inc. Acquires 116,860 Shares of AppLovin Co. (NYSE:APP)

Industrial Alliance Investment Management Inc. raised its holdings in AppLovin Co. (NYSE:APP – Get Rating) by 90.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 246,210 shares of the company’s stock after purchasing an additional 116,860 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in AppLovin were worth $4,799,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in AppLovin by 7.8% in the third quarter. Vanguard Group Inc. now owns 15,387,994 shares of the company’s stock valued at $299,911,000 after buying an additional 1,115,232 shares during the period. BlackRock Inc. raised its stake in AppLovin by 3.4% in the third quarter. BlackRock Inc. now owns 12,039,824 shares of the company’s stock valued at $234,655,000 after buying an additional 390,451 shares during the period. Tiger Global Management LLC acquired a new position in shares of AppLovin in the third quarter valued at approximately $96,920,000. State Street Corp grew its position in shares of AppLovin by 14.0% in the third quarter. State Street Corp now owns 3,465,241 shares of the company’s stock valued at $67,538,000 after purchasing an additional 424,435 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of AppLovin by 57.7% in the third quarter. First Trust Advisors LP now owns 2,779,986 shares of the company’s stock valued at $54,182,000 after purchasing an additional 1,017,521 shares during the last quarter. Institutional investors own 38.19% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 25,000 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $14.77, for a total value of $369,250.00. Following the sale, the insider now owns 961,382 shares of the company’s stock, valued at approximately $14,199,612.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CMO Katie Kihorany Jansen sold 65,155 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $13.78, for a total value of $897,835.90. Following the completion of the transaction, the chief marketing officer now directly owns 1,564,539 shares in the company, valued at approximately $21,559,347.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 25,000 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $14.77, for a total value of $369,250.00. Following the completion of the transaction, the insider now owns 961,382 shares of the company’s stock, valued at $14,199,612.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,322 shares of company stock valued at $2,140,975. 12.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on APP shares. Jefferies Financial Group started coverage on AppLovin in a research report on Wednesday, November 30th. They issued a “hold” rating and a $14.00 target price on the stock. Benchmark upped their target price on AppLovin from $7.00 to $9.00 and gave the company a “sell” rating in a research report on Thursday, February 9th. Wedbush reaffirmed an “outperform” rating and issued a $23.00 target price on shares of AppLovin in a research report on Thursday, February 9th. Citigroup decreased their target price on AppLovin from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 14th. Finally, Credit Suisse Group reduced their price target on AppLovin from $57.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, AppLovin currently has a consensus rating of “Hold” and a consensus target price of $27.12.

AppLovin Trading Up 6.4 %

Shares of APP stock opened at $13.59 on Thursday. The stock’s fifty day moving average price is $12.92 and its two-hundred day moving average price is $15.47. The company has a market cap of $5.12 billion, a PE ratio of -26.13, a P/E/G ratio of 2.83 and a beta of 1.85. AppLovin Co. has a fifty-two week low of $9.14 and a fifty-two week high of $58.27. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.35 and a current ratio of 3.35.

AppLovin Profile

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AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction.