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

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new stake in AppLovin during the 3rd quarter valued at $281,000. Private Advisor Group LLC boosted its holdings in AppLovin by 58.0% in the third quarter. Private Advisor Group LLC now owns 11,291 shares of the company’s stock worth $1,474,000 after purchasing an additional 4,147 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of AppLovin during the 3rd quarter valued at about $56,410,000. IFM Investors Pty Ltd lifted its stake in shares of AppLovin by 11.0% in the third quarter. IFM Investors Pty Ltd now owns 40,439 shares of the company’s stock worth $5,279,000 after buying an additional 3,999 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in AppLovin by 14.8% during the 3rd quarter. Ballentine Partners LLC now owns 8,104 shares of the company’s stock worth $1,058,000 after acquiring an additional 1,047 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on APP shares. Oppenheimer reiterated an “outperform” rating and set a $560.00 target price (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Jefferies Financial Group raised their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler upped their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $442.18.

AppLovin Stock Down 7.7 %

APP stock opened at $415.31 on Monday. The firm has a 50-day moving average price of $365.59 and a 200-day moving average price of $245.72. AppLovin Co. has a 12 month low of $56.45 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $139.37 billion, a P/E ratio of 91.48, a price-to-earnings-growth ratio of 3.28 and a beta of 2.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 99,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now owns 6,684 shares in the company, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,302 shares of company stock valued at $65,305,354 in the last 90 days. 14.69% of the stock is owned by corporate insiders.

About AppLovin

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.