Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 8,100 Shares of AppLovin Corporation $APP

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in AppLovin Corporation (NASDAQ:APP) by 19.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 50,000 shares of the company’s stock after buying an additional 8,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AppLovin were worth $17,504,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the last quarter. Baillie Gifford & Co. increased its position in AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares during the last quarter. Invesco Ltd. increased its position in AppLovin by 32.9% in the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock worth $1,062,876,000 after purchasing an additional 992,316 shares during the last quarter. Finally, Kensico Capital Management Corp boosted its stake in AppLovin by 12.9% during the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock worth $762,849,000 after buying an additional 328,000 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other news, Director Dawson Alyssa Harvey sold 350 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $487.97, for a total transaction of $170,789.50. Following the completion of the sale, the director directly owned 3,150 shares of the company’s stock, valued at approximately $1,537,105.50. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the sale, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,156,788 shares of company stock valued at $514,863,333 over the last ninety days. Company insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of analyst reports. Phillip Securities upgraded shares of AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. Wall Street Zen cut shares of AppLovin from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $560.00 to $615.00 and gave the company a “buy” rating in a research report on Friday, September 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $630.00 price objective on shares of AppLovin in a research report on Tuesday, October 14th. Finally, Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $605.13.

AppLovin Stock Down 2.5%

Shares of APP opened at $626.82 on Wednesday. The firm has a market capitalization of $212.02 billion, a P/E ratio of 89.04, a P/E/G ratio of 3.49 and a beta of 2.53. AppLovin Corporation has a 12-month low of $158.33 and a 12-month high of $745.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a fifty day moving average price of $577.47 and a 200-day moving average price of $430.32.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business’s revenue was up 77.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 earnings per share. Equities research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

AppLovin Company 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.