Handelsbanken Fonder AB Has $26.50 Million Stake in AppLovin Co. (NASDAQ:APP)

Handelsbanken Fonder AB lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,998 shares of the company’s stock after selling 10,024 shares during the period. Handelsbanken Fonder AB’s holdings in AppLovin were worth $26,496,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the fourth quarter worth about $25,000. Riverview Trust Co raised its position in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of AppLovin during the 4th quarter worth approximately $28,000. Hemington Wealth Management boosted 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 acquiring an additional 40 shares in the last quarter. Finally, Smithfield Trust Co bought a new position in AppLovin in the fourth quarter valued at approximately $32,000. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on APP shares. Piper Sandler boosted their price objective on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Oppenheimer restated an “outperform” rating and set a $500.00 price objective (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Wells Fargo & Company raised their price objective on AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. HSBC set a $436.00 target price on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Citigroup reissued a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.10.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 513 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the sale, the director now owns 3,451 shares in the company, valued at $1,450,455.30. This represents a 12.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 6,585 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $370.23, for a total value of $2,437,964.55. Following the sale, the insider now directly owns 357,903 shares of the company’s stock, valued at $132,506,427.69. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,211,468 shares of company stock valued at $454,489,290. 14.69% of the stock is currently owned by company insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $383.61 on Wednesday. The firm has a market cap of $129.81 billion, a PE ratio of 84.50, a price-to-earnings-growth ratio of 3.02 and a beta of 2.53. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The firm’s fifty day moving average is $315.46 and its 200-day moving average is $333.14.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was up 40.3% on a year-over-year basis. Sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

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.