Swedbank AB Has $76.65 Million Holdings in AppLovin Corporation $APP

Swedbank AB increased its position in AppLovin Corporation (NASDAQ:APP) by 0.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 192,596 shares of the company’s stock after purchasing an additional 1,049 shares during the period. Swedbank AB owned about 0.06% of AppLovin worth $76,653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors boosted its position in shares of AppLovin by 143.0% in the first quarter. Ascentis Independent Advisors now owns 1,390 shares of the company’s stock worth $553,000 after buying an additional 818 shares during the period. Seascape Capital Management lifted its stake in AppLovin by 0.4% in the 1st quarter. Seascape Capital Management now owns 13,067 shares of the company’s stock worth $5,201,000 after acquiring an additional 54 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its position in AppLovin by 3.7% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 1,616 shares of the company’s stock worth $643,000 after acquiring an additional 58 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in AppLovin by 4.2% during the 1st quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 789 shares of the company’s stock worth $314,000 after acquiring an additional 32 shares during the period. Finally, Revisor Wealth Management LLC purchased a new position in AppLovin during the 1st quarter valued at about $201,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Down 2.9%

NASDAQ:APP opened at $527.98 on Wednesday. The stock’s 50 day moving average price is $505.22 and its 200 day moving average price is $501.73. AppLovin Corporation has a 52 week low of $332.32 and a 52 week high of $745.61. The company has a market capitalization of $177.37 billion, a P/E ratio of 45.36, a P/E/G ratio of 0.88 and a beta of 2.49. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $1.67 earnings per share. The company’s revenue was up 58.9% compared to the same quarter last year. On average, research analysts forecast that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on APP shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Raymond James Financial began coverage on shares of AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 price objective on the stock. KeyCorp set a $775.00 price objective on shares of AppLovin in a research note on Wednesday, June 10th. BTIG Research reiterated a “buy” rating and issued a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Finally, Argus assumed coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $668.45.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 22,544 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the sale, the chief executive officer directly owned 2,327,684 shares in the company, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares in the company, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 389,924 shares of company stock worth $195,693,875 in the last 90 days. 13.66% of the stock is owned by corporate insiders.

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.