E. Ohman J or Asset Management AB Buys Shares of 5,771 AppLovin Corporation $APP

E. Ohman J or Asset Management AB purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,771 shares of the company’s stock, valued at approximately $3,889,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. Avanza Fonder AB acquired a new position in AppLovin during the fourth quarter worth $834,000. Overbrook Management Corp acquired a new stake in AppLovin in the 4th quarter valued at $10,179,000. SG Americas Securities LLC lifted its position in AppLovin by 114.7% during the 4th quarter. SG Americas Securities LLC now owns 77,158 shares of the company’s stock worth $51,991,000 after buying an additional 41,215 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AppLovin by 15.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,725 shares of the company’s stock worth $4,531,000 after buying an additional 891 shares during the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of AppLovin by 8.3% during the 4th quarter. Fulton Bank N.A. now owns 8,717 shares of the company’s stock worth $5,874,000 after buying an additional 671 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction dated Monday, March 16th. The shares were 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 $3,160,545,043.18. This represents a 2.30% 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, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the sale, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. This represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 365,244 shares of company stock worth $169,584,607 over the last ninety days. Insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APP. Weiss Ratings downgraded AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. The Goldman Sachs Group lowered their price target on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. BTIG Research dropped their price objective on AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a report on Friday, March 6th. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $654.50.

AppLovin Price Performance

NASDAQ:APP opened at $458.95 on Tuesday. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61. The firm has a market capitalization of $154.79 billion, a price-to-earnings ratio of 47.07, a P/E/G ratio of 0.77 and a beta of 2.51. The stock’s 50 day moving average price is $472.12 and its two-hundred day moving average price is $573.32. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company posted $1.73 EPS. The firm’s revenue for the quarter was up 66.0% compared to the same quarter last year. On average, analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

AppLovin 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.