Swedbank AB Has $76.65 Million Holdings in AppLovin Corporation $APP

Swedbank AB grew its holdings in AppLovin Corporation (NASDAQ:APP) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 192,596 shares of the company’s stock after acquiring an additional 1,049 shares during the quarter. Swedbank AB’s holdings in AppLovin were worth $76,653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of APP. Washington Trust Advisors Inc. grew its position in AppLovin by 160.0% in the 4th 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 last quarter. Board of the Pension Protection Fund acquired a new position in shares of AppLovin during the fourth quarter valued at about $27,000. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin in the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin in the fourth quarter valued at about $32,000. Finally, Osbon Capital Management LLC acquired a new stake in AppLovin during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the completion of the sale, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the completion of the transaction, the chief technology officer owned 3,189,739 shares in the company, valued at $1,545,173,366.38. This represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 389,924 shares of company stock worth $195,693,875. Insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $527.98 on Wednesday. The stock has a 50-day simple moving average of $505.22 and a 200 day simple moving average of $501.73. The stock has a market capitalization of $177.37 billion, a price-to-earnings ratio of 45.36, a P/E/G ratio of 0.88 and a beta of 2.49. 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 12-month low of $332.32 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 earnings per share. On average, research analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on APP shares. Morgan Stanley reiterated an “overweight” rating on shares of AppLovin in a research report on Wednesday, May 27th. BTIG Research restated a “buy” rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Wedbush reaffirmed an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Finally, Citigroup reissued a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $668.45.

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.