Skandinaviska Enskilda Banken AB publ Increases Stock Holdings in AppLovin Co. (NASDAQ:APP)

Skandinaviska Enskilda Banken AB publ raised its position in AppLovin Co. (NASDAQ:APP) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,819 shares of the company’s stock after acquiring an additional 700 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in AppLovin were worth $3,064,000 as of its most recent SEC filing.

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

AppLovin Trading Up 0.0 %

Shares of AppLovin stock opened at $126.12 on Tuesday. The company’s fifty day moving average is $88.69 and its two-hundred day moving average is $80.97. AppLovin Co. has a 1 year low of $34.45 and a 1 year high of $128.19. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market capitalization of $41.50 billion, a P/E ratio of 75.07, a PEG ratio of 1.41 and a beta of 1.88.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was up 44.0% on a year-over-year basis. Analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 5,500 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the transaction, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. The disclosure for this sale can be found here. Insiders sold a total of 775,934 shares of company stock valued at $65,805,022 over the last three months. 14.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wedbush decreased their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America boosted their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Oppenheimer restated an “outperform” rating and issued a $105.00 price objective (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Citigroup boosted their target price on shares of AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, BTIG Research raised their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.09.

AppLovin 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.