Tredje AP fonden Has $2.26 Million Stake in AppLovin Co. (NASDAQ:APP)

Tredje AP fonden cut its stake in AppLovin Co. (NASDAQ:APP) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,179 shares of the company’s stock after selling 420 shares during the quarter. Tredje AP fonden’s holdings in AppLovin were worth $2,262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of APP. WCM Investment Management LLC purchased a new stake in AppLovin in the 1st quarter valued at about $497,488,000. Jericho Capital Asset Management L.P. grew its stake in AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of AppLovin during the 1st quarter worth $195,129,000. First Trust Advisors LP raised its stake in shares of AppLovin by 42.6% during the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock worth $91,605,000 after purchasing an additional 686,258 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of AppLovin by 27.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company’s stock worth $124,372,000 after buying an additional 322,563 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on APP shares. Bank of America lifted their price objective on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. BTIG Research upped their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $145.00 in a report on Tuesday. Finally, Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.09.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now directly owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 47,001 shares of AppLovin stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the sale, the insider now directly owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 775,934 shares of company stock valued at $65,805,022. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Up 0.7 %

Shares of AppLovin stock opened at $124.00 on Friday. The company’s 50-day moving average price is $86.26 and its 200-day moving average price is $79.52. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $128.19. The company has a market cap of $40.80 billion, a price-to-earnings ratio of 73.81, a PEG ratio of 1.41 and a beta of 1.88.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. On average, equities analysts expect that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.