Andra AP fonden Has $25.74 Million Holdings in AppLovin Corporation $APP

Key Points

• Andra AP fonden cut its AppLovin stake by 37.9% in the first quarter, selling 39,497 shares and ending with 64,666 shares valued at about $25.74 million.
• Wall Street remains broadly positive on AppLovin, with analysts maintaining mostly Buy or Overweight ratings and an average price target of $668.45.
• AppLovin posted strong Q1 results, beating earnings and revenue estimates with $3.56 EPS and $1.84 billion in revenue, while insiders also sold shares during the quarter.

Andra AP fonden lowered its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 37.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,666 shares of the company's stock after selling 39,497 shares during the quarter. Andra AP fonden's holdings in AppLovin were worth $25,737,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new position in shares of AppLovin in the first quarter valued at approximately $25,000. Commerzbank Aktiengesellschaft FI lifted its position in AppLovin by 7.9% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 3,028 shares of the company's stock valued at $1,205,000 after acquiring an additional 222 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in AppLovin by 5.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,450 shares of the company's stock worth $1,771,000 after purchasing an additional 244 shares during the period. WCM Investment Management LLC boosted its stake in AppLovin by 5.2% in the 1st quarter. WCM Investment Management LLC now owns 5,001,600 shares of the company's stock worth $1,860,995,000 after purchasing an additional 245,290 shares during the period. Finally, KBC Group NV increased its holdings in AppLovin by 2.1% during the 1st quarter. KBC Group NV now owns 255,447 shares of the company's stock worth $101,667,000 after purchasing an additional 5,223 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Needham & Company LLC restated a "buy" rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, May 28th. Morgan Stanley reissued an "overweight" rating on shares of AppLovin in a research report on Wednesday, May 27th. Argus began coverage on AppLovin in a research note on Tuesday, April 14th. They issued a "buy" rating and a $520.00 target price on the stock. Benchmark reaffirmed a "buy" rating on shares of AppLovin in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company raised their price target on shares of AppLovin from $571.00 to $575.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $668.45.

AppLovin Trading Up 0.0%

AppLovin stock opened at $424.60 on Tuesday. The company has a market cap of $142.64 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 0.69 and a beta of 2.49. The firm has a 50-day moving average of $504.94 and a 200-day moving average of $485.82. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a one year low of $343.00 and a one year high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results 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 return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. The business's quarterly revenue was up 58.9% on a year-over-year basis. On average, equities analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 33,042 shares of the business's 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 of the company's stock, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 20,000 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares of the company's stock, valued at $138,055,090.29. This represents a 7.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 393,000 shares of company stock valued at $197,297,363. 12.81% of the stock is owned by insiders.

AppLovin Company 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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