Lansforsakringar Fondforvaltning AB publ Sells 14,803 Shares of AppLovin Corporation $APP

Lansforsakringar Fondforvaltning AB publ reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 16.4% during the first quarter, Holdings Channel reports. The institutional investor owned 75,203 shares of the company’s stock after selling 14,803 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in AppLovin were worth $29,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. Board of the Pension Protection Fund bought a new stake in AppLovin during the 4th quarter worth approximately $27,000. Washington Trust Advisors Inc. boosted its position in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Mcguire Capital Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter worth $27,000. Laurel Wealth Advisors LLC purchased a new stake in shares of AppLovin in the fourth quarter worth $32,000. Finally, CENTRAL TRUST Co raised its position in shares of AppLovin by 41.3% during the 1st quarter. CENTRAL TRUST Co now owns 89 shares of the company’s stock valued at $35,000 after purchasing an additional 26 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the transaction, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 389,924 shares of company stock worth $195,693,875. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Up 4.5%

APP opened at $498.76 on Tuesday. The company has a market capitalization of $167.55 billion, a PE ratio of 42.85, a price-to-earnings-growth ratio of 0.77 and a beta of 2.45. The firm has a 50-day simple moving average of $497.65 and a two-hundred day simple moving average of $508.03. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 52 week low of $325.58 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business’s revenue was up 58.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 earnings per share. Analysts forecast that AppLovin Corporation will post 15.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APP has been the topic of several research analyst reports. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Wedbush reissued an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a research note on Wednesday, May 27th. Finally, Benchmark reaffirmed a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $668.27.

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.