Swedbank AB Increases Stock Holdings in AppLovin Co. (NASDAQ:APP)

Swedbank AB boosted its stake in AppLovin Co. (NASDAQ:APP) by 24.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,455 shares of the company’s stock after buying an additional 19,100 shares during the quarter. Swedbank AB’s holdings in AppLovin were worth $12,592,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin in the third quarter valued at about $25,000. DT Investment Partners LLC bought a new stake in AppLovin in the 3rd quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin during the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC purchased a new position in shares of AppLovin in the 2nd quarter worth approximately $33,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APP has been the topic of a number of recent analyst reports. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $280.00 in a report on Friday, November 8th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Macquarie increased their price target on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their target price for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $265.57.

AppLovin Price Performance

APP stock opened at $329.77 on Wednesday. The firm has a 50 day moving average of $185.37 and a 200-day moving average of $119.37. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $110.67 billion, a P/E ratio of 99.93, a price-to-earnings-growth ratio of 4.11 and a beta of 1.86. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $344.77.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business earned $0.30 EPS. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 154,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 854,065 shares of company stock worth $233,072,408 in the last ninety days. 14.69% of the stock is currently owned by insiders.

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.