Swiss National Bank Raises Stake in AppLovin Corporation $APP

Swiss National Bank increased its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 7.1% in the first quarter, Holdings Channel reports. The firm owned 677,030 shares of the company’s stock after acquiring an additional 44,720 shares during the period. Swiss National Bank’s holdings in AppLovin were worth $269,458,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of APP. Washington Trust Advisors Inc. lifted its position in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the fourth quarter worth $27,000. Mcguire Capital Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the 4th quarter valued at $32,000. Finally, Osbon Capital Management LLC acquired a new position in shares of AppLovin during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $484.42, for a total transaction of $30,423,513.68. Following the completion of the sale, the chief technology officer owned 3,189,739 shares in the company, valued at $1,545,173,366.38. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 20,000 shares of AppLovin stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 393,000 shares of company stock valued at $197,297,363. Insiders own 13.66% of the company’s stock.

AppLovin Price Performance

APP opened at $424.54 on Friday. AppLovin Corporation has a twelve month low of $343.00 and a twelve month high of $745.61. The firm has a market cap of $142.62 billion, a price-to-earnings ratio of 36.47, a PEG 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. The company has a fifty day simple moving average of $506.01 and a 200 day simple moving average of $489.19.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for 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%. The firm’s revenue was up 58.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 EPS. Equities research analysts expect that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APP has been the subject of several recent research reports. Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a report on Tuesday, July 7th. Benchmark restated a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Wells Fargo & Company upped their target price on AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Wedbush reiterated an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Finally, Argus assumed coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $668.45.

About AppLovin

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.