Swedbank AB Has $42.59 Million Position in AppLovin Corporation $APP

Key Points

• Swedbank AB increased its stake in AppLovin Corporation by 46.5% during Q1, owning a total of 160,734 shares valued at approximately $42.59 million as per the latest SEC filing.
• AppLovin reported an EPS of $2.26 for the last quarter, exceeding estimates, but the revenue of $1.26 billion fell short of analyst expectations of $1.37 billion.
• The stock's average rating is a Moderate Buy, with a consensus price target of $487.86, as analysts express mixed sentiments with some upgrading and others downgrading their ratings.

Swedbank AB boosted its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 46.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,734 shares of the company's stock after buying an additional 51,026 shares during the quarter. Swedbank AB's holdings in AppLovin were worth $42,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC lifted its holdings in AppLovin by 5.1% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock worth $445,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after purchasing an additional 66,453 shares during the period. Yousif Capital Management LLC lifted its stake in shares of AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after purchasing an additional 119 shares during the period. Peak Retirement Planning Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at about $969,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock valued at $1,106,000 after purchasing an additional 121 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Up 1.9%

APP stock opened at $582.00 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. The stock's 50 day simple moving average is $424.50 and its 200 day simple moving average is $353.48. The company has a market cap of $196.86 billion, a P/E ratio of 82.67, a price-to-earnings-growth ratio of 3.19 and a beta of 2.44. AppLovin Corporation has a fifty-two week low of $105.94 and a fifty-two week high of $587.88.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company's revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. On average, research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on APP shares. Citigroup reissued a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Tuesday, August 26th. Wedbush boosted their price objective on AppLovin from $620.00 to $725.00 and gave the company an "outperform" rating in a research note on Friday. Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, BTIG Research upped their price target on AppLovin from $480.00 to $483.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $487.86.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 26,200 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the sale, the chief executive officer directly owned 2,590,054 shares of the company's stock, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total value of $17,578,050.00. Following the sale, the insider directly owned 269,955 shares of the company's stock, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,156,788 shares of company stock valued at $514,863,333. Company insiders own 13.66% 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.

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