Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Stock Position in AppLovin Corporation $APP

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in AppLovin Corporation (NASDAQ:APP) by 76.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 60,580 shares of the company’s stock after purchasing an additional 26,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AppLovin were worth $24,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Allworth Financial LP grew its stake in AppLovin by 131.7% during the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock worth $4,347,000 after buying an additional 3,438 shares during the last quarter. Franklin Resources Inc. lifted its stake in AppLovin by 24.9% in the third quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock valued at $1,754,996,000 after buying an additional 487,492 shares during the last quarter. Generate Investment Management Ltd purchased a new stake in AppLovin in the fourth quarter valued at approximately $2,347,000. Kinetic Partners Management LP boosted its holdings in shares of AppLovin by 7.5% in the third quarter. Kinetic Partners Management LP now owns 128,106 shares of the company’s stock valued at $92,049,000 after acquiring an additional 8,930 shares during the period. Finally, Calamos Advisors LLC boosted its holdings in shares of AppLovin by 73.3% in the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock valued at $32,840,000 after acquiring an additional 20,609 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the transaction, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 22,544 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the transaction, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 389,924 shares of company stock worth $195,693,875. Corporate insiders own 13.66% of the company’s stock.

AppLovin Price Performance

APP stock opened at $527.06 on Friday. The stock has a market capitalization of $177.06 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 0.85 and a beta of 2.49. The company has a fifty day moving average of $501.83 and a 200-day moving average of $504.78. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin Corporation has a one year low of $325.58 and a one year high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue was up 58.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.67 earnings per share. As a group, analysts expect that AppLovin Corporation will post 15.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APP. Wedbush reaffirmed an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Argus initiated coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of AppLovin in a research note on Thursday, May 28th. Finally, Raymond James Financial began coverage on shares of AppLovin in a report on Monday. They issued a “strong-buy” rating and a $640.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $668.27.

AppLovin 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.