Handelsbanken Fonder AB Decreases Stock Position in AppLovin Corporation $APP

Handelsbanken Fonder AB lessened its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,943 shares of the company’s stock after selling 13,268 shares during the period. Handelsbanken Fonder AB’s holdings in AppLovin were worth $75,429,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mediolanum International Funds Ltd increased its holdings in AppLovin by 73.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock valued at $54,664,000 after purchasing an additional 32,510 shares during the period. Allworth Financial LP boosted its position in AppLovin by 131.7% during the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after acquiring an additional 3,438 shares in the last quarter. CIBC Asset Management Inc boosted its position in AppLovin by 14.8% during the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after acquiring an additional 15,074 shares in the last quarter. APG Asset Management N.V. bought a new stake in AppLovin during the 3rd quarter valued at approximately $4,958,000. Finally, Trek Financial LLC boosted its position in AppLovin by 851.6% during the 3rd quarter. Trek Financial LLC now owns 9,630 shares of the company’s stock valued at $6,920,000 after acquiring an additional 8,618 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on APP. Oppenheimer cut their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. UBS Group cut their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. BTIG Research reaffirmed a “buy” rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Argus began coverage on AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $664.35.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at $1,583,462,445.39. This trade represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Performance

Shares of APP opened at $492.38 on Tuesday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The business’s 50 day moving average price is $446.94 and its 200-day moving average price is $527.38. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61. The stock has a market cap of $165.41 billion, a P/E ratio of 42.30, a P/E/G ratio of 0.81 and a beta of 2.37.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $1.67 EPS. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. Equities research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

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.