AppLovin Corporation $APP Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of AppLovin Corporation (NASDAQ:APP) by 76.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,580 shares of the company’s stock after acquiring an additional 26,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AppLovin were worth $24,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Board of the Pension Protection Fund acquired a new position in AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. lifted its position in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in shares of AppLovin in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the fourth quarter valued at approximately $32,000. Finally, First Pacific Financial acquired a new position in shares of AppLovin in the first quarter valued at approximately $33,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 20,000 shares of the stock in a transaction dated 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 transaction, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This trade represents a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 389,924 shares of company stock worth $195,693,875. Corporate insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $527.06 on Friday. 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 firm has a fifty day moving average price of $501.83 and a 200 day moving average price of $504.78. The company has a market cap of $177.06 billion, a P/E ratio of 45.28, a PEG ratio of 0.85 and a beta of 2.49. AppLovin Corporation has a 12 month low of $325.58 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.77 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. AppLovin’s revenue for the quarter was up 58.9% compared to the same quarter last year. Sell-side analysts predict that AppLovin Corporation will post 15.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APP. Wells Fargo & Company upped their target price on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. KeyCorp set a $775.00 price target on shares of AppLovin in a research note on Wednesday, June 10th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research report on Wednesday, June 10th. Citigroup reiterated a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. Finally, Argus started coverage on AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $668.27.

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.