Handelsbanken Fonder AB Purchases 68,022 Shares of AppLovin Co. (NASDAQ:APP)

Handelsbanken Fonder AB grew its position in AppLovin Co. (NASDAQ:APP) by 162.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 110,022 shares of the company’s stock after purchasing an additional 68,022 shares during the period. Handelsbanken Fonder AB’s holdings in AppLovin were worth $35,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the 3rd quarter valued at approximately $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin in the fourth quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin during the third quarter worth $27,000. Finally, Raleigh Capital Management Inc. bought a new stake in shares of AppLovin during the third quarter worth $29,000. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Down 8.9 %

Shares of APP stock opened at $450.01 on Friday. AppLovin Co. has a 52-week low of $54.50 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $151.02 billion, a price-to-earnings ratio of 99.12, a PEG ratio of 3.61 and a beta of 2.30. The firm’s 50-day moving average is $363.77 and its 200-day moving average is $240.83.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APP. Benchmark upped their target price on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Oppenheimer reissued an “outperform” rating and issued a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Citigroup lifted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $442.18.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 30,330 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total value of $10,029,221.10. Following the sale, the director now owns 90,576 shares of the company’s stock, valued at approximately $29,950,765.92. This represents a 25.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,302 shares of company stock valued at $65,305,354 in the last quarter. 14.69% of the stock is currently owned by insiders.

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.