AppLovin Co. (NASDAQ:APP) Shares Bought by Swiss National Bank

Swiss National Bank lifted its stake in shares of AppLovin Co. (NASDAQ:APP) by 89.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 536,790 shares of the company’s stock after acquiring an additional 253,200 shares during the quarter. Swiss National Bank owned 0.16% of AppLovin worth $37,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Gulf International Bank UK Ltd acquired a new position in AppLovin in the first quarter valued at $1,131,000. CWM LLC increased its holdings in AppLovin by 16.3% in the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after buying an additional 401 shares in the last quarter. Contrarius Investment Management Ltd purchased a new position in AppLovin in the fourth quarter valued at about $7,334,000. Allspring Global Investments Holdings LLC increased its holdings in AppLovin by 177.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 340,823 shares of the company’s stock valued at $23,592,000 after buying an additional 217,887 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of AppLovin during the 4th quarter worth approximately $2,284,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 2.8 %

NASDAQ APP traded up $2.37 during mid-day trading on Monday, hitting $87.23. The company’s stock had a trading volume of 432,113 shares, compared to its average volume of 4,204,888. The company’s 50 day simple moving average is $81.90 and its 200 day simple moving average is $66.36. AppLovin Co. has a twelve month low of $27.32 and a twelve month high of $91.91. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. The firm has a market capitalization of $28.70 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 1.44 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $973.70 million. During the same period in the previous year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. Analysts anticipate that AppLovin Co. will post 2.96 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their price target on shares of AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 9th. BTIG Research increased their price objective on shares of AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus increased their target price on shares of AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Citigroup raised their target price on shares of AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.72.

Insider Transactions at AppLovin

In other news, CMO Katie Kihorany Jansen sold 147,984 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.29, for a total transaction of $12,177,603.36. Following the completion of the sale, the chief marketing officer now owns 1,264,284 shares of the company’s stock, valued at $104,037,930.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Craig Scott Billings sold 5,620 shares of AppLovin stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $84.97, for a total transaction of $477,531.40. Following the transaction, the director now directly owns 1,780 shares of the company’s stock, valued at approximately $151,246.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Katie Kihorany Jansen sold 147,984 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.29, for a total value of $12,177,603.36. Following the completion of the transaction, the chief marketing officer now directly owns 1,264,284 shares in the company, valued at $104,037,930.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,857,726 shares of company stock valued at $1,489,251,374. 14.69% of the stock is owned by corporate insiders.

AppLovin Company 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.