Nordea Investment Management AB Boosts Holdings in AppLovin Co. (NASDAQ:APP)

Nordea Investment Management AB grew its holdings in AppLovin Co. (NASDAQ:APP) by 58.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,619 shares of the company’s stock after purchasing an additional 50,928 shares during the quarter. Nordea Investment Management AB’s holdings in AppLovin were worth $44,901,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Townsquare Capital LLC increased its position in AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after buying an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC purchased a new position in AppLovin in the 3rd quarter valued at about $224,000. State Street Corp lifted its holdings in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management grew its holdings in shares of AppLovin by 328.1% during the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after buying an additional 81,331 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

Shares of NASDAQ APP opened at $330.01 on Wednesday. The firm has a market cap of $110.75 billion, a PE ratio of 100.00, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a 50 day moving average price of $308.96 and a two-hundred day moving average price of $175.97. AppLovin Co. has a fifty-two week low of $37.95 and a fifty-two week high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $0.30 EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. Sell-side analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APP. Macquarie lifted their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus upped their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. Finally, Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.71.

Insider Transactions at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently 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.