AppLovin Corporation $APP Shares Bought by AMF Tjanstepension AB

AMF Tjanstepension AB increased its holdings in AppLovin Corporation (NASDAQ:APP) by 113.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,619 shares of the company’s stock after buying an additional 9,895 shares during the period. AMF Tjanstepension AB’s holdings in AppLovin were worth $13,378,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC boosted its position in shares of AppLovin by 31.5% during the second quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company’s stock valued at $1,627,000 after purchasing an additional 1,114 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new position in AppLovin during the third quarter valued at $2,514,000. Thames Capital Management LLC boosted its holdings in shares of AppLovin by 114.8% during the 3rd quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock valued at $12,001,000 after buying an additional 8,925 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of AppLovin by 118.0% during the 3rd quarter. Rakuten Securities Inc. now owns 10,540 shares of the company’s stock valued at $7,573,000 after buying an additional 5,705 shares in the last quarter. Finally, Aberdeen Group plc grew its position in shares of AppLovin by 6.5% in the 2nd quarter. Aberdeen Group plc now owns 114,180 shares of the company’s stock worth $39,972,000 after buying an additional 7,001 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on APP shares. Citigroup lowered their price target on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the company a “buy” rating in a report on Wednesday, October 22nd. Morgan Stanley lifted their target price on shares of AppLovin from $750.00 to $800.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Royal Bank Of Canada lifted their price target on shares of AppLovin from $700.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. increased their target price on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $706.76.

Insider Transactions at AppLovin

In related news, Director Eduardo Vivas sold 150,000 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the completion of the transaction, the director owned 7,133,292 shares of the company’s stock, valued at $4,643,131,095.72. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares in the company, valued at approximately $1,328,384,136.69. This represents a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 340,336 shares of company stock worth $200,062,623 over the last three months. 13.66% of the stock is currently owned by insiders.

AppLovin Price Performance

NASDAQ:APP opened at $524.41 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The firm has a market capitalization of $177.22 billion, a price-to-earnings ratio of 63.64, a PEG ratio of 1.73 and a beta of 2.50. The business has a 50 day simple moving average of $634.79 and a 200-day simple moving average of $560.84.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.AppLovin’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period last year, the company earned $1.29 EPS. Equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

AppLovin Company Profile

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.