AppLovin Corporation $APP Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 34.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,441 shares of the company’s stock after acquiring an additional 17,942 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in AppLovin were worth $27,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake 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 purchasing an additional 166,117 shares during the period. State Street Corp grew its position in AppLovin by 0.4% during the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock worth $8,021,721,000 after purchasing an additional 52,377 shares during the last quarter. Geode Capital Management LLC increased its stake in AppLovin by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after purchasing an additional 448,005 shares during the period. Price T Rowe Associates Inc. MD increased its stake in AppLovin by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after purchasing an additional 212,349 shares during the period. Finally, Morgan Stanley increased its stake in AppLovin by 10.7% in the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after purchasing an additional 538,806 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 62,804 shares of the 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 transaction, the chief technology officer directly owned 3,189,739 shares of the company’s stock, valued at approximately $1,545,173,366.38. This represents a 1.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 33,042 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total value of $16,089,801.90. Following the transaction, the chief executive officer directly owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 389,924 shares of company stock worth $195,693,875 in the last three months. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $469.71 on Friday. AppLovin Corporation has a fifty-two week low of $320.00 and a fifty-two week high of $745.61. 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 firm’s 50-day simple moving average is $492.23 and its 200-day simple moving average is $517.80. The company has a market cap of $157.79 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 0.76 and a beta of 2.45.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APP. UBS Group decreased their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Wedbush restated an “outperform” rating and issued a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of AppLovin in a research report on Thursday, May 28th. Arete Research set a $340.00 price objective on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $669.62.

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.