Danica Pension Livsforsikringsaktieselskab Buys New Stake in AppLovin Corporation $APP

Danica Pension Livsforsikringsaktieselskab purchased a new position in AppLovin Corporation (NASDAQ:APP) in the first quarter, HoldingsChannel.com reports. The fund purchased 12,798 shares of the company’s stock, valued at approximately $5,094,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redhawk Wealth Advisors Inc. increased its position in AppLovin by 2.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after purchasing an additional 18 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Finivi Inc. lifted its holdings in AppLovin by 3.2% in the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after purchasing an additional 22 shares in the last quarter. Alta Wealth Advisors LLC boosted its stake in shares of AppLovin by 0.6% during the 4th quarter. Alta Wealth Advisors LLC now owns 3,925 shares of the company’s stock worth $2,645,000 after purchasing an additional 24 shares during the last quarter. Finally, Washington Trust Advisors Inc. boosted its stake in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on APP shares. Weiss Ratings raised shares of AppLovin from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. UBS Group lowered their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Finally, Argus initiated coverage on AppLovin in a report on Tuesday, April 14th. They set a “buy” rating and a $520.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

AppLovin Trading Down 3.8%

Shares of APP stock opened at $412.48 on Thursday. The firm has a market cap of $138.57 billion, a P/E ratio of 35.44, a PEG ratio of 0.70 and a beta of 2.49. AppLovin Corporation has a 1-year low of $349.21 and a 1-year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm’s 50-day simple moving average is $502.88 and its 200-day simple moving average is $482.25.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. AppLovin’s revenue was up 58.9% compared to the same quarter last year. As a group, equities analysts forecast that AppLovin Corporation will post 15.93 EPS for the current year.

Insider Buying and Selling

In related news, CFO Matthew Stumpf sold 9,052 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 33,042 shares of AppLovin stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at $1,153,755,469.45. The trade was a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 393,000 shares of company stock worth $197,297,363 over the last 90 days. Company insiders own 12.81% of the company’s stock.

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.