Swiss National Bank Buys 2,300 Shares of AppLovin Corporation (NASDAQ:APP)

Key Points

• The Swiss National Bank increased its holdings in AppLovin Corporation by 0.4%, owning 589,690 shares worth approximately $156.25 million.
• Insiders have sold over 1.2 million shares of AppLovin stock in the past 90 days, valued at about $455 million, indicating significant insider selling activity.
• AppLovin reported a quarterly earnings per share of $2.26, surpassing analyst expectations, but its revenue of $1.26 billion fell short of forecasts.

Swiss National Bank boosted its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,690 shares of the company's stock after acquiring an additional 2,300 shares during the period. Swiss National Bank owned 0.17% of AppLovin worth $156,250,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin during the 4th quarter valued at $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin during the first quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin during the first quarter worth $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of AppLovin during the first quarter worth $29,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. HSBC set a $436.00 price objective on shares of AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Scotiabank lifted their price objective on shares of AppLovin from $430.00 to $450.00 and gave the company a "sector outperform" rating in a research report on Thursday. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Finally, Citigroup reiterated a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $472.33.

AppLovin Stock Performance

Shares of NASDAQ:APP traded up $18.64 during trading on Friday, reaching $455.98. The stock had a trading volume of 9,470,995 shares, compared to its average volume of 5,628,843. AppLovin Corporation has a 52 week low of $72.81 and a 52 week high of $525.15. The firm has a market capitalization of $154.30 billion, a price-to-earnings ratio of 64.77, a P/E/G ratio of 2.71 and a beta of 2.43. The company has a quick ratio of 1.68, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The stock has a fifty day simple moving average of $366.78 and a two-hundred day simple moving average of $339.90.

AppLovin (NASDAQ:APP - Get Free Report) last released 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 company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company's quarterly revenue was up 77.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. As a group, analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dawson Alyssa Harvey sold 513 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the completion of the transaction, the director directly owned 3,451 shares of the company's stock, valued at approximately $1,450,455.30. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Messing sold 1,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total transaction of $573,690.00. Following the transaction, the director directly owned 9,510 shares of the company's stock, valued at $3,637,194.60. The trade was a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,212,968 shares of company stock valued at $455,062,980. 13.66% of the stock is owned by insiders.

About AppLovin

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.