Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 1,020 Shares of AppLovin Corporation $APP

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of AppLovin Corporation (NASDAQ:APP) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,380 shares of the company’s stock after selling 1,020 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AppLovin were worth $23,166,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in AppLovin by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after acquiring an additional 166,117 shares during the last quarter. State Street Corp grew its holdings in AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares during the last quarter. Geode Capital Management LLC grew its holdings in AppLovin by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock worth $4,817,269,000 after acquiring an additional 448,005 shares during the last quarter. Invesco Ltd. grew its holdings in AppLovin by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock worth $3,084,514,000 after acquiring an additional 367,083 shares during the last quarter. Finally, Kensico Capital Management Corp grew its holdings in AppLovin by 3.1% during the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock worth $2,240,767,000 after acquiring an additional 95,000 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on APP. Benchmark reissued a “buy” rating on shares of AppLovin in a report on Friday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, May 28th. Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Arete Research set a $340.00 target price on shares of AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, Citigroup reaffirmed a “buy” rating and issued a $710.00 target price on shares of AppLovin in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $664.35.

AppLovin Stock Down 0.3%

Shares of NASDAQ APP opened at $557.20 on Friday. The firm has a market capitalization of $187.19 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 0.91 and a beta of 2.45. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The firm’s 50-day moving average is $470.43 and its 200-day moving average is $521.43.

AppLovin (NASDAQ:APP) last announced 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 for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. Equities analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

Insiders Place Their Bets

In related news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 2,889 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $488.90, for a total transaction of $1,412,432.10. Following the completion of the sale, the chief technology officer owned 17,945 shares in the company, valued at $8,773,310.50. This represents a 13.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 467,092 shares of company stock worth $220,268,340 over the last ninety days. Company insiders own 13.66% of the company’s stock.

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.