AMF Tjanstepension AB Invests $3.05 Million in AppLovin Corporation $APP

Key Points

• AMF Tjanstepension AB has invested approximately $3.05 million in AppLovin Corporation, acquiring 8,724 shares during the second quarter.
• Corporate insiders, including CTO Vasily Shikin, have sold a significant number of shares, with insiders selling a total of 1,156,788 shares worth over $514 million in the last 90 days.
• Analyst ratings for AppLovin are mixed, with a consensus rating of "Moderate Buy" and an average target price of $578.86, despite some analysts downgrading the stock.

AMF Tjanstepension AB acquired a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,724 shares of the company's stock, valued at approximately $3,054,000.

Several other large investors also recently made changes to their positions in the stock. LGT Fund Management Co Ltd. bought a new stake in shares of AppLovin during the second quarter worth $210,000. 111 Capital bought a new position in AppLovin in the second quarter valued at $1,625,000. Hennessy Advisors Inc. bought a new position in AppLovin in the second quarter valued at $132,000. QRG Capital Management Inc. grew its position in AppLovin by 36.3% in the second quarter. QRG Capital Management Inc. now owns 62,908 shares of the company's stock valued at $22,023,000 after purchasing an additional 16,761 shares in the last quarter. Finally, Segment Wealth Management LLC grew its position in AppLovin by 0.8% in the second quarter. Segment Wealth Management LLC now owns 15,518 shares of the company's stock valued at $5,433,000 after purchasing an additional 117 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 30,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the completion of the transaction, the director owned 181,929 shares in the company, valued at approximately $78,682,473.21. This trade represents a 52.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock worth $514,863,333 in the last 90 days. Corporate insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

APP has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research raised shares of AppLovin to a "strong-buy" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Benchmark raised their target price on shares of AppLovin from $525.00 to $640.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $578.86.

AppLovin Stock Performance

Shares of APP stock opened at $682.76 on Friday. The stock has a market cap of $230.94 billion, a P/E ratio of 96.98, a P/E/G ratio of 3.75 and a beta of 2.53. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The company has a fifty day moving average price of $514.58 and a two-hundred day moving average price of $390.81. AppLovin Corporation has a one year low of $135.50 and a one year high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 earnings per share. As a group, equities analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin Company 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.

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