Fjarde AP Fonden Fourth Swedish National Pension Fund Has $23.17 Million Stock Holdings in AppLovin Corporation $APP

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in AppLovin Corporation (NASDAQ:APP) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,380 shares of the company’s stock after selling 1,020 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AppLovin were worth $23,166,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new stake in AppLovin during the 4th quarter worth approximately $294,000. Bison Wealth LLC acquired a new stake in AppLovin during the 4th quarter worth approximately $239,000. Integrated Wealth Concepts LLC raised its holdings in AppLovin by 58.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock worth $448,000 after buying an additional 621 shares during the period. NewEdge Advisors LLC raised its holdings in AppLovin by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,523 shares of the company’s stock worth $5,084,000 after buying an additional 782 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in AppLovin by 7.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company’s stock worth $48,727,000 after buying an additional 9,380 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 467,092 shares of company stock valued at $220,268,340 over the last ninety days. Insiders own 13.66% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $557.20 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61. The company has a market capitalization of $187.19 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 0.91 and a beta of 2.45. The firm’s 50 day moving average is $470.43 and its 200-day moving average is $521.43.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share (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 company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $1.67 earnings per share. The firm’s revenue was up 58.9% compared to the same quarter last year. Equities research analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

APP has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. Oppenheimer dropped their target price on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Argus initiated coverage on shares of AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price on the stock. Finally, Piper Sandler raised their target price on shares of AppLovin from $650.00 to $665.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $664.35.

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.