Nordea Investment Management AB Purchases 29,862 Shares of AppLovin Corporation $APP

Key Points

• Nordea Investment Management AB increased its stake in AppLovin Corporation by 16.2%, acquiring an additional 29,862 shares, bringing its total to 213,855 shares valued at approximately $76.85 million.
• Insider selling was reported as CEO Arash Adam Foroughi and Director Herald Y. Chen sold significant portions of their shares, contributing to a total insider sale of 1.16 million shares valued at over $514 million in the last ninety days.
• AppLovin has a market capitalization of $202.72 billion and reported a year-over-year revenue increase of 77.1%, with an EPS of $2.26, surpassing analysts' expectations.

Nordea Investment Management AB grew its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 16.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,855 shares of the company's stock after acquiring an additional 29,862 shares during the period. Nordea Investment Management AB owned about 0.06% of AppLovin worth $76,849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of APP. Atala Financial Inc bought a new position in shares of AppLovin during the first quarter valued at about $26,000. Hilltop National Bank bought a new position in shares of AppLovin during the second quarter valued at about $26,000. Alpine Bank Wealth Management bought a new position in shares of AppLovin during the first quarter valued at about $27,000. ORG Wealth Partners LLC bought a new position in shares of AppLovin during the first quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of AppLovin during the first quarter valued at about $29,000. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 90,000 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares of the company's stock, valued at approximately $1,103,147,536.16. This trade represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the transaction, the director directly owned 181,929 shares of the company's stock, valued at $78,682,473.21. This represents a 52.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by company insiders.

AppLovin Price Performance

Shares of NASDAQ APP opened at $599.31 on Friday. AppLovin Corporation has a fifty-two week low of $141.35 and a fifty-two week high of $745.61. The company has a 50 day simple moving average of $556.25 and a two-hundred day simple moving average of $412.29. The company has a market capitalization of $202.72 billion, a price-to-earnings ratio of 85.13, a P/E/G ratio of 3.25 and a beta of 2.53. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on APP shares. Wedbush upped their price objective on shares of AppLovin from $725.00 to $745.00 and gave the company an "outperform" rating in a research note on Monday, October 6th. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wells Fargo & Company increased their price target on shares of AppLovin from $491.00 to $633.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Morgan Stanley increased their price target on shares of AppLovin from $480.00 to $750.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Finally, Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $600.59.

AppLovin Profile

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.

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