AppLovin Corporation $APP Shares Sold by Swedbank AB

Swedbank AB lowered its holdings in AppLovin Corporation (NASDAQ:APP) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 191,547 shares of the company’s stock after selling 2,123 shares during the quarter. Swedbank AB’s holdings in AppLovin were worth $129,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of AppLovin by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after acquiring an additional 166,117 shares during the period. State Street Corp increased its stake in shares of AppLovin by 111.1% in the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares during the period. Invesco Ltd. increased its stake in shares of AppLovin by 9.4% in the third quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock worth $3,084,514,000 after acquiring an additional 367,083 shares during the period. Jennison Associates LLC increased 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 acquiring an additional 1,381,970 shares during the period. Finally, Kensico Capital Management Corp increased its stake in shares of AppLovin by 3.1% in the third quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock worth $2,240,767,000 after acquiring an additional 95,000 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Argus assumed coverage on shares of AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target on the stock. Morgan Stanley set a $720.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Wedbush restated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Finally, Arete Research set a $340.00 price target on shares of AppLovin and gave the company a “neutral” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $664.35.

Insider Activity

In other news, CTO Vasily Shikin sold 5,231 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the sale, the chief technology officer directly owned 30,658 shares of the company’s stock, valued at approximately $14,638,275.26. The trade was a 14.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the sale, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 365,244 shares of company stock valued at $169,584,607. Company insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of APP stock opened at $481.68 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm’s 50-day moving average is $446.31 and its two-hundred day moving average is $523.95. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The company has a market capitalization of $161.82 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 0.78 and a beta of 2.37.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. AppLovin’s quarterly revenue was up 58.9% compared to the same quarter last year. Analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current year.

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.