Skandinaviska Enskilda Banken AB publ Raises Stock Holdings in AppLovin Co. (NASDAQ:APP)

Skandinaviska Enskilda Banken AB publ increased its stake in shares of AppLovin Co. (NASDAQ:APP) by 1.9% in the second quarter, HoldingsChannel reports. The firm owned 36,819 shares of the company’s stock after buying an additional 700 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in AppLovin were worth $3,064,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in APP. FinTrust Capital Advisors LLC purchased a new position in shares of AppLovin during the 4th quarter worth $32,000. Quest Partners LLC purchased a new position in AppLovin during the second quarter worth about $33,000. Covestor Ltd boosted its stake in AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after buying an additional 236 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in AppLovin in the 2nd quarter valued at about $37,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of AppLovin during the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the transaction, the director now directly owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the sale, the insider now owns 390,615 shares in the company, valued at $33,225,711.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The disclosure for this sale can be found here. Insiders have sold 775,934 shares of company stock worth $65,805,022 in the last three months. 14.69% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on APP. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Bank of America upped their price objective on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Wedbush reduced their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. BTIG Research boosted their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Jefferies Financial Group raised their price objective on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.09.

AppLovin Trading Up 0.0 %

APP opened at $126.12 on Tuesday. The firm has a market capitalization of $41.50 billion, a P/E ratio of 75.07, a P/E/G ratio of 1.41 and a beta of 1.88. The firm’s 50 day moving average is $88.69 and its 200-day moving average is $80.97. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $128.19. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. Analysts expect that AppLovin Co. will post 3.46 EPS for the current fiscal year.

AppLovin 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.