Nordea Investment Management AB Grows Stock Holdings in AppLovin Corporation $APP

Nordea Investment Management AB lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 229,814 shares of the company’s stock after acquiring an additional 15,959 shares during the quarter. Nordea Investment Management AB owned approximately 0.07% of AppLovin worth $163,474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in AppLovin during the 2nd quarter worth $951,541,000. National Pension Service lifted its holdings in shares of AppLovin by 82.2% in the 2nd quarter. National Pension Service now owns 790,271 shares of the company’s stock worth $276,658,000 after buying an additional 356,443 shares during the period. Voya Investment Management LLC grew its position in shares of AppLovin by 235.5% during the 3rd quarter. Voya Investment Management LLC now owns 496,560 shares of the company’s stock worth $356,800,000 after buying an additional 348,548 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of AppLovin by 204.8% during the second quarter. Canada Pension Plan Investment Board now owns 425,622 shares of the company’s stock valued at $149,002,000 after buying an additional 285,970 shares during the period. Finally, Brevan Howard Capital Management LP bought a new stake in shares of AppLovin in the second quarter valued at about $92,335,000. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Piper Sandler increased their target price on shares of AppLovin from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. UBS Group set a $800.00 price target on shares of AppLovin in a report on Tuesday. The Goldman Sachs Group increased their price objective on shares of AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of AppLovin in a report on Monday, December 29th. Finally, Morgan Stanley boosted their price objective on shares of AppLovin from $750.00 to $800.00 and gave the stock an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $700.35.

AppLovin Stock Up 1.5%

Shares of AppLovin stock opened at $668.63 on Wednesday. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The company has a market cap of $225.96 billion, a P/E ratio of 81.14, a PEG ratio of 2.18 and a beta of 2.50. The firm’s 50 day moving average price is $640.73 and its 200-day moving average price is $549.90. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the company posted $1.29 earnings per share. AppLovin’s revenue for the quarter was up 68.2% compared to the same quarter last year. On average, sell-side analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $693.32, for a total value of $103,998.00. Following the sale, the director owned 2,829 shares in the company, valued at $1,961,402.28. The trade was a 5.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 340,336 shares of company stock worth $200,062,623 over the last quarter. Company insiders own 13.66% of the company’s stock.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.