AppLovin Corporation $APP Shares Bought by Swiss National Bank

Swiss National Bank raised its stake in AppLovin Corporation (NASDAQ:APP) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 677,030 shares of the company’s stock after buying an additional 44,720 shares during the period. Swiss National Bank owned approximately 0.20% of AppLovin worth $269,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in shares of AppLovin by 111.1% during the 3rd 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 in the last quarter. Corient Private Wealth LLC increased its stake in AppLovin by 3,118.6% in the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock valued at $2,826,049,000 after purchasing an additional 4,063,763 shares in the last quarter. Norges Bank purchased a new position in AppLovin in the 4th quarter valued at approximately $2,040,321,000. Northern Trust Corp raised its holdings in AppLovin by 46.8% during the third quarter. Northern Trust Corp now owns 2,374,460 shares of the company’s stock worth $1,706,144,000 after purchasing an additional 756,660 shares during the last quarter. Finally, Amundi raised its holdings in AppLovin by 81.3% during the fourth quarter. Amundi now owns 1,426,896 shares of the company’s stock worth $961,471,000 after purchasing an additional 639,836 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, May 28th. Wedbush reiterated an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Citigroup reissued a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. Benchmark restated a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Finally, UBS Group cut their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $668.45.

AppLovin Stock Performance

NASDAQ APP opened at $424.54 on Friday. The business’s 50-day moving average price is $506.01 and its 200 day moving average price is $489.19. AppLovin Corporation has a twelve month low of $343.00 and a twelve month high of $745.61. The company has a market capitalization of $142.62 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 0.69 and a beta of 2.49. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $1.67 EPS. The company’s revenue was up 58.9% on a year-over-year basis. On average, research analysts predict that AppLovin Corporation will post 15.93 earnings per share for the current year.

Insider Activity at AppLovin

In other news, CFO Matthew Stumpf sold 9,052 shares of the business’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 sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 62,804 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the sale, the chief technology officer owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. The trade was a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 over the last 90 days. 13.66% of the stock is currently owned by insiders.

AppLovin Company 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.