AppLovin Co. (NASDAQ:APP) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in shares of AppLovin Co. (NASDAQ:APP) by 7.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,100 shares of the company’s stock after selling 3,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AppLovin were worth $15,252,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the 3rd quarter worth about $25,000. GHP Investment Advisors Inc. purchased a new position in AppLovin in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin during the third quarter worth approximately $27,000. Hemington Wealth Management lifted its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on APP. The Goldman Sachs Group lifted their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Bank of America lifted their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $442.18.

AppLovin Stock Performance

NASDAQ APP opened at $415.31 on Monday. The business’s 50 day moving average is $365.59 and its two-hundred day moving average is $245.72. The stock has a market capitalization of $139.37 billion, a price-to-earnings ratio of 91.48, a PEG ratio of 3.28 and a beta of 2.30. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $56.45 and a 12-month high of $525.15.

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

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the transaction, the director now directly owns 6,684 shares in the company, valued at $2,715,508.68. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,302 shares of company stock worth $65,305,354 in the last ninety days. Insiders own 14.69% of the company’s stock.

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.