AppLovin Co. (NASDAQ:APP) Holdings Decreased by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,998 shares of the company's stock after selling 10,024 shares during the period. Handelsbanken Fonder AB's holdings in AppLovin were worth $26,496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of APP. FMR LLC lifted its position in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. SVB Wealth LLC acquired a new position in AppLovin in the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. lifted its holdings in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Norges Bank acquired a new stake in AppLovin during the 4th quarter worth $828,138,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after buying an additional 2,373,885 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of analyst reports. HSBC set a $436.00 price objective on AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Citigroup reissued a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Piper Sandler boosted their target price on shares of AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, UBS Group raised their price target on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $438.10.

AppLovin Price Performance

Shares of APP stock traded down $4.50 during trading hours on Thursday, hitting $378.93. The company's stock had a trading volume of 3,879,653 shares, compared to its average volume of 6,098,297. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a fifty day moving average of $318.74 and a 200-day moving average of $333.48. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock has a market cap of $128.22 billion, a price-to-earnings ratio of 83.46, a P/E/G ratio of 3.02 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned $0.67 earnings per share. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the sale, the director now owns 3,451 shares of the company's stock, valued at $1,450,455.30. This represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig Scott Billings sold 12,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $353.12, for a total value of $4,237,440.00. Following the completion of the transaction, the director now owns 2,987 shares in the company, valued at approximately $1,054,769.44. This trade represents a 80.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,211,468 shares of company stock valued at $454,489,290. Company insiders own 14.69% of the company's stock.

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.