AMF Tjanstepension AB Buys 4,535 Shares of AppLovin Corporation $APP

Key Points

• AMF Tjanstepension AB increased its AppLovin stake by 11.6% in the first quarter, buying 4,535 additional shares and bringing its total holding to 43,658 shares worth about $17.4 million.
• Wall Street remains broadly positive on AppLovin (NASDAQ: APP), with an average rating of “Moderate Buy” and a consensus price target of $668.45. Several firms recently reiterated bullish views, including Raymond James with a “Strong Buy” and a $640 target.
• AppLovin also reported strong quarterly results, beating earnings and revenue expectations with EPS of $3.56 on revenue of $1.84 billion, while revenue jumped 58.9% year over year. However, insider selling has been notable, including large sales by the CTO and CFO in recent months.

AMF Tjanstepension AB grew its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,658 shares of the company's stock after purchasing an additional 4,535 shares during the quarter. AMF Tjanstepension AB's holdings in AppLovin were worth $17,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in AppLovin by 131.7% in 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 in the last quarter. Generate Investment Management Ltd bought a new position in shares of AppLovin in the fourth quarter valued at $2,347,000. Kinetic Partners Management LP lifted its holdings in shares of AppLovin by 7.5% during the third quarter. Kinetic Partners Management LP now owns 128,106 shares of the company's stock valued at $92,049,000 after purchasing an additional 8,930 shares during the last quarter. Calamos Advisors LLC lifted its stake in AppLovin by 73.3% during the fourth quarter. Calamos Advisors LLC now owns 48,737 shares of the company's stock valued at $32,840,000 after buying an additional 20,609 shares in the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new position in AppLovin in the 4th quarter worth approximately $4,043,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Benchmark reaffirmed a "buy" rating on shares of AppLovin in a research note on Wednesday, June 10th. Argus initiated coverage on AppLovin in a research note on Tuesday, April 14th. They set a "buy" rating and a $520.00 price target for the company. Raymond James Financial started coverage on shares of AppLovin in a research note on Monday, June 29th. They issued a "strong-buy" rating and a $640.00 target price on the stock. Wells Fargo & Company lifted their price target on AppLovin from $571.00 to $575.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings raised AppLovin from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $668.45.

Insider Activity

In other news, CTO Vasily Shikin sold 62,804 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the completion of the sale, the chief technology officer directly owned 3,189,739 shares of the company's stock, valued at $1,545,173,366.38. This represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction that occurred 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 directly owned 177,450 shares in the company, valued at $106,470,000. The trade was a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 393,000 shares of company stock valued at $197,297,363. Insiders own 13.66% of the company's stock.

AppLovin Stock Performance

Shares of APP opened at $506.98 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market cap of $170.31 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 0.82 and a beta of 2.49. The stock has a fifty day moving average price of $509.16 and a two-hundred day moving average price of $497.50. AppLovin Corporation has a 52-week low of $332.32 and a 52-week high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the company posted $1.67 EPS. AppLovin's revenue was up 58.9% on a year-over-year basis. Analysts predict that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Jefferies survey data suggests AppLovin is gaining e-commerce ad share as advertisers expand platform use, with its share of advertiser budgets rising to 11.1%, reinforcing the view that its ad tech is still taking share. Article on Jefferies survey and budget share gains
• Positive Sentiment: Analysts remain constructive, with BTIG reaffirming a Buy rating and a $640 price target, while other reports point to AppLovin’s strong earnings execution, revenue growth, and expanding margins. BTIG price target and earnings outlook article
• Positive Sentiment: Market commentary highlights that investors are closely watching AppLovin’s growth story, which can support momentum when sentiment around AI and ad-tech leaders is strong. Zacks article on investor interest
• Neutral Sentiment: Short-interest data showed no reported short interest as of July 10, so this update does not appear to signal meaningful bearish positioning.
• Negative Sentiment: Director Maynard G. Webb, Jr. sold 3,076 shares worth about $1.6 million, which may weigh on sentiment even though he still retains a large position. SEC filing on insider sale
• Negative Sentiment: New reporting raised questions about political donations and Chinese investor ties, introducing potential reputational and geopolitical overhangs for AppLovin (APP). Yahoo Finance article on political donations and investor ties

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.

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