81,327 Shares in AppLovin Corporation $APP Purchased by Nykredit A S

Key Points

• Nykredit A S purchased 81,327 AppLovin shares worth approximately $41.9 million in the second quarter, while institutional investors and hedge funds collectively own 41.85% of the company.
• AppLovin reported quarterly earnings of $3.76 per share, in line with estimates, while revenue rose 52.8% year over year to $1.92 billion, slightly below analyst expectations.
• AppLovin shares opened at $313.58, near their 52-week low of $297.50. Analysts maintain a “Moderate Buy” consensus with an average price target of $538.61, although company insiders have sold $135.3 million of stock over the past 90 days.

Nykredit A S bought a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 81,327 shares of the company's stock, valued at approximately $41,902,000.

Several other large investors have also recently bought and sold shares of APP. Signature Estate & Investment Advisors LLC boosted its stake in AppLovin by 3,695.3% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 76,361 shares of the company's stock valued at $39,345,000 after purchasing an additional 74,349 shares in the last quarter. Insight Wealth Strategies LLC bought a new stake in shares of AppLovin in the 2nd quarter worth $6,939,000. Generate Investment Management Ltd acquired a new stake in shares of AppLovin in the second quarter valued at $7,226,000. Asset Management One Co. Ltd. lifted its holdings in shares of AppLovin by 6.5% in the second quarter. Asset Management One Co. Ltd. now owns 105,909 shares of the company's stock valued at $54,567,000 after buying an additional 6,424 shares during the period. Finally, North Dakota State Investment Board acquired a new stake in shares of AppLovin in the fourth quarter valued at $5,490,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Foroughi sold 33,042 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90. Following the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Maynard G. Webb, Jr. sold 3,076 shares of AppLovin stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the completion of the transaction, the director directly owned 120,444 shares in the company, valued at approximately $62,786,252.76. This represents a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 271,152 shares of company stock valued at $135,295,830. Corporate insiders own 12.81% of the company's stock.

AppLovin Trading Down 1.7%

NASDAQ:APP opened at $313.58 on Friday. AppLovin Corporation has a fifty-two week low of $297.50 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30. The stock has a market cap of $104.94 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 0.67 and a beta of 2.49. The stock's 50-day moving average is $397.72 and its two-hundred day moving average is $441.12.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, meeting the consensus estimate of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $2.39 earnings per share. The company's revenue for the quarter was up 52.8% on a year-over-year basis. As a group, equities research analysts forecast that AppLovin Corporation will post 15.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on APP shares. KeyCorp set a $775.00 target price on AppLovin in a report on Wednesday, June 10th. Morgan Stanley cut their price target on shares of AppLovin from $720.00 to $650.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. Scotiabank reaffirmed a "sector outperform" rating and issued a $515.00 price objective on shares of AppLovin in a research note on Thursday, August 6th. William Blair set a $440.00 target price on shares of AppLovin in a report on Monday, August 17th. Finally, BTIG Research cut their target price on shares of AppLovin from $574.00 to $408.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $538.61.

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.

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