Danica Pension Livsforsikringsaktieselskab Takes Position in AppLovin Corporation $APP

Key Points

• Danica Pension disclosed a new first-quarter stake in AppLovin, buying 12,798 shares worth about $5.1 million.
• AppLovin continues to attract major institutional interest, with large investors like State Street, Corient, Norges Bank, Northern Trust, and Amundi all reporting sizable positions. Institutional investors and hedge funds now own 41.85% of the stock.
• The company posted strong quarterly results, with EPS of $3.56 topping estimates and revenue of $1.84 billion rising 58.9% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $668.45.

Danica Pension Livsforsikringsaktieselskab purchased a new stake in AppLovin Corporation (NASDAQ:APP - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,798 shares of the company's stock, valued at approximately $5,094,000.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company's stock worth $8,516,471,000 after buying an additional 6,237,051 shares during the period. Corient Private Wealth LLC lifted its position in AppLovin by 3,118.6% during the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company's stock worth $2,826,049,000 after acquiring an additional 4,063,763 shares during the period. Norges Bank acquired a new stake in AppLovin during the 4th quarter worth approximately $2,040,321,000. Northern Trust Corp grew its stake in shares of AppLovin by 46.8% in the 3rd quarter. Northern Trust Corp now owns 2,374,460 shares of the company's stock valued at $1,706,144,000 after purchasing an additional 756,660 shares during the last quarter. Finally, Amundi grew its stake in shares of AppLovin by 81.3% in the 4th quarter. Amundi now owns 1,426,896 shares of the company's stock valued at $961,471,000 after purchasing an additional 639,836 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

NASDAQ:APP opened at $412.48 on Thursday. The firm's fifty day simple moving average is $502.88 and its 200-day simple moving average is $482.25. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a market cap of $138.57 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 0.70 and a beta of 2.49. AppLovin Corporation has a fifty-two week low of $349.21 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating 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 last year, the business earned $1.67 earnings per share. The business's revenue for the quarter was up 58.9% compared to the same quarter last year. Analysts expect that AppLovin Corporation will post 15.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APP. Citigroup reiterated a "buy" rating on shares of AppLovin in a research report on Monday, June 22nd. Argus initiated coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a "buy" rating and a $520.00 target price on the stock. Piper Sandler restated an "overweight" rating on shares of AppLovin in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $500.00 to $515.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, UBS Group dropped their target price on AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $668.45.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total value of $82,620,474.60. Following the sale, the director owned 6,785,087 shares of the company's stock, valued at approximately $3,420,090,953.22. This represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the insider owned 243,961 shares of the company's stock, valued at approximately $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 worth $197,297,363. 12.81% of the stock is owned by insiders.

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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