AMF Tjanstepension AB Decreases Position in AppLovin Corporation $APP

AMF Tjanstepension AB cut its position in AppLovin Corporation (NASDAQ:APP) by 17.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 39,123 shares of the company’s stock after selling 8,427 shares during the quarter. AMF Tjanstepension AB’s holdings in AppLovin were worth $26,362,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new position in shares of AppLovin during the fourth quarter valued at approximately $294,000. Bison Wealth LLC purchased a new position in shares of AppLovin during the fourth quarter valued at approximately $239,000. Integrated Wealth Concepts LLC raised its holdings in shares of AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after purchasing an additional 621 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock valued at $5,084,000 after purchasing an additional 782 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock valued at $48,727,000 after purchasing an additional 9,380 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on APP shares. Benchmark reissued a “buy” rating on shares of AppLovin in a report on Friday, March 6th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the company a “neutral” rating in a report on Monday, March 2nd. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Jefferies Financial Group reduced their target price on shares of AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Morgan Stanley set a $720.00 target price on shares of AppLovin in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $664.35.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 over the last three months. 13.66% of the stock is currently owned by company insiders.

AppLovin Stock Down 1.7%

Shares of APP stock opened at $492.38 on Tuesday. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The stock has a market cap of $165.41 billion, a P/E ratio of 42.30, a P/E/G ratio of 0.81 and a beta of 2.37. 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 company has a 50 day simple moving average of $446.94 and a two-hundred day simple moving average of $527.38.

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. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company earned $1.67 earnings per share. The firm’s revenue was up 58.9% on a year-over-year basis. On average, research analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current year.

About AppLovin

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.