Skandinaviska Enskilda Banken AB publ Has $45.06 Million Stock Position in AppLovin Corporation $APP

Skandinaviska Enskilda Banken AB publ boosted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 17.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,705 shares of the company’s stock after purchasing an additional 9,262 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in AppLovin were worth $45,056,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA acquired a new stake in shares of AppLovin in the 2nd quarter valued at approximately $26,000. Chilton Capital Management LLC acquired a new position in AppLovin during the third quarter worth $29,000. Activest Wealth Management raised its position in AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after acquiring an additional 38 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in AppLovin during the second quarter worth $33,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in AppLovin in the third quarter valued at $33,000. 41.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the sale, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 187,786 shares of company stock worth $100,914,925 in the last 90 days. Company insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of AppLovin from $735.00 to $543.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. BTIG Research lowered their price target on AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Piper Sandler restated an “overweight” rating and issued a $650.00 price objective (down previously from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. Wedbush lifted their target price on AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings lowered AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 15th. Twenty investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $651.77.

AppLovin Trading Up 6.7%

Shares of NASDAQ:APP opened at $391.55 on Tuesday. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61. The business has a 50 day moving average of $590.55 and a 200-day moving average of $573.26. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock has a market cap of $132.32 billion, a PE ratio of 40.16, a P/E/G ratio of 1.25 and a beta of 2.49.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 earnings per share. As a group, equities research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.