AMF Tjanstepension AB Purchases New Position in AppLovin Corporation $APP

AMF Tjanstepension AB purchased a new stake in AppLovin Corporation (NASDAQ:APP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,724 shares of the company’s stock, valued at approximately $3,054,000.

Several other hedge funds and other institutional investors have also bought and sold shares of APP. Atala Financial Inc acquired a new stake in AppLovin in the 1st quarter worth about $26,000. Hilltop National Bank acquired a new stake in AppLovin in the 2nd quarter worth about $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin in the 1st quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in AppLovin in the 1st quarter worth about $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in AppLovin in the 1st quarter worth about $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of several analyst reports. Wall Street Zen cut shares of AppLovin from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Citigroup lifted their price objective on shares of AppLovin from $600.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research boosted their target price on shares of AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company boosted their target price on shares of AppLovin from $480.00 to $491.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $578.86.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the transaction, the insider directly owned 269,955 shares in the company, valued at $135,579,499.65. This represents a 11.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the transaction, the chief executive officer owned 2,620,054 shares of the company’s stock, valued at approximately $1,103,147,536.16. This represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,156,788 shares of company stock worth $514,863,333 over the last 90 days. 13.66% of the stock is owned by corporate insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $682.76 on Friday. The firm has a 50 day moving average of $514.58 and a 200-day moving average of $390.81. The stock has a market capitalization of $230.94 billion, a PE ratio of 96.98, a PEG ratio of 3.75 and a beta of 2.53. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 12 month low of $135.50 and a 12 month high of $745.61.

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