Skandinaviska Enskilda Banken AB publ Buys 9,262 Shares of AppLovin Corporation $APP

Skandinaviska Enskilda Banken AB publ increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 17.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,705 shares of the company’s stock after purchasing an additional 9,262 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in AppLovin were worth $45,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA acquired a new position in shares of AppLovin during the 2nd quarter worth about $26,000. Chilton Capital Management LLC bought a new position in AppLovin during the 3rd quarter worth approximately $29,000. Activest Wealth Management boosted its stake in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after acquiring an additional 38 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in AppLovin during the second quarter valued at approximately $33,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in AppLovin in the third quarter valued at approximately $33,000. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the topic of a number of recent analyst reports. BTIG Research reduced their price target on shares of AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Citigroup dropped their price objective on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Wells Fargo & Company decreased their target price on AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Piper Sandler restated an “overweight” rating and issued a $650.00 price target (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $700.00 price objective on shares of AppLovin in a report on Thursday, February 12th. Twenty equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $651.77.

AppLovin Stock Performance

APP opened at $391.55 on Tuesday. The company has a market capitalization of $132.32 billion, a price-to-earnings ratio of 40.16, a P/E/G ratio of 1.25 and a beta of 2.49. The business’s 50-day moving average price is $590.55 and its two-hundred day moving average price is $573.26. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.25.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.35. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.AppLovin’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share. Equities analysts expect that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the transaction, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin 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 completion of the sale, the chief executive officer owned 2,553,161 shares in the company, valued at $1,328,384,136.69. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 187,786 shares of company stock valued at $100,914,925 in the last ninety days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin 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.