SEB Asset Management AB Takes Position in AppLovin Corporation $APP

SEB Asset Management AB bought a new stake in AppLovin Corporation (NASDAQ:APP) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 68,377 shares of the company’s stock, valued at approximately $27,214,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. increased its holdings in AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the 4th quarter valued at about $32,000. Osbon Capital Management LLC acquired a new position in AppLovin in the 4th quarter worth about $36,000. Finally, Aventura Private Wealth LLC acquired a new position in AppLovin in the 4th quarter worth about $38,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

APP stock opened at $424.54 on Monday. AppLovin Corporation has a 12-month low of $343.00 and a 12-month high of $745.61. The business’s 50-day moving average is $506.01 and its 200 day moving average is $487.71. 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 stock has a market cap of $142.62 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 0.69 and a beta of 2.49.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Argus initiated coverage on AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target on the stock. Citigroup restated a “buy” rating on shares of AppLovin in a research report on Monday, June 22nd. Raymond James Financial began coverage on AppLovin in a research report on Monday, June 29th. They set a “strong-buy” rating and a $640.00 target price on the stock. UBS Group dropped their price target on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Piper Sandler reissued an “overweight” rating on shares of AppLovin in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $668.45.

Insider Activity

In related news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the transaction, the director directly owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $521.29, for a total value of $1,603,488.04. Following the completion of the transaction, the director owned 120,444 shares in the company, valued at $62,786,252.76. The trade was a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 393,000 shares of company stock valued at $197,297,363 in the last three months. Company insiders own 13.66% of the company’s stock.

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.