AppLovin Corporation (NASDAQ:APP) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in AppLovin Corporation by 11.0%, selling 5,200 shares, bringing its total ownership to 41,900 shares valued at $11.1 million.
• Recent insider sales included Director Eduardo Vivas, who sold 125,000 shares for approximately $58.25 million, reducing his ownership by 1.69%.
• AppLovin's stock price rose by 1.2% to $438.68, and analysts have generally rated the stock as a "Moderate Buy" with an average price target of $472.33.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,900 shares of the company's stock after selling 5,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in AppLovin were worth $11,102,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Forum Financial Management LP boosted its position in AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after purchasing an additional 33 shares in the last quarter. Vestcor Inc raised its holdings in shares of AppLovin by 0.8% in the first quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after acquiring an additional 33 shares during the last quarter. Argentarii LLC raised its holdings in shares of AppLovin by 1.5% in the first quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after acquiring an additional 40 shares during the last quarter. Atlas Capital Advisors Inc. raised its holdings in shares of AppLovin by 11.3% in the first quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock worth $104,000 after acquiring an additional 40 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of AppLovin by 13.4% in the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $97,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insiders Place Their Bets

In other news, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the sale, the director owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herald Y. Chen sold 32,991 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $457.93, for a total value of $15,107,568.63. Following the completion of the sale, the director owned 381,929 shares of the company's stock, valued at approximately $174,896,746.97. This trade represents a 7.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 925,398 shares of company stock valued at $392,582,738. Company insiders own 13.66% of the company's stock.

AppLovin Trading Up 1.2%

APP stock traded up $5.34 during trading on Friday, reaching $438.68. 3,399,166 shares of the stock traded hands, compared to its average volume of 6,114,927. The business's 50 day moving average price is $370.82 and its 200-day moving average price is $343.23. AppLovin Corporation has a 52-week low of $82.51 and a 52-week high of $525.15. 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 firm has a market capitalization of $148.38 billion, a PE ratio of 62.31, a P/E/G ratio of 2.42 and a beta of 2.43.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler boosted their price target on AppLovin from $470.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Zacks Research raised AppLovin to a "strong-buy" rating in a report on Friday, August 8th. Scotiabank boosted their price target on AppLovin from $430.00 to $450.00 and gave the stock a "sector outperform" rating in a report on Thursday, August 7th. UBS Group boosted their price target on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Citigroup reiterated a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $472.33.

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.