Swedbank AB Has $35.53 Million Stake in AppLovin Co. (NASDAQ:APP)

Swedbank AB boosted its position in AppLovin Co. (NASDAQ:APP) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,708 shares of the company’s stock after purchasing an additional 13,253 shares during the period. Swedbank AB’s holdings in AppLovin were worth $35,527,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of APP. National Bank of Canada FI lifted its holdings in AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after buying an additional 39 shares during the period. Versant Capital Management Inc lifted its stake in shares of AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after acquiring an additional 53 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares during the last quarter. Fifth Third Bancorp increased its position in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares during the period. Finally, Avior Wealth Management LLC raised its holdings in AppLovin by 54.7% during the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock worth $70,000 after purchasing an additional 76 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. UBS Group lifted their price objective on AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Finally, Oppenheimer restated an “outperform” rating and set a $480.00 price target on shares of AppLovin in a report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Stock Down 0.2 %

APP stock opened at $365.51 on Friday. The stock’s 50 day moving average is $340.85 and its 200-day moving average is $205.26. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The firm has a market capitalization of $122.66 billion, a PE ratio of 110.76, a P/E/G ratio of 2.96 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. Sell-side analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company’s stock.

AppLovin 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.