AppLovin Co. (NASDAQ:APP) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB lifted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 58.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 138,619 shares of the company’s stock after acquiring an additional 50,928 shares during the period. Nordea Investment Management AB’s holdings in AppLovin were worth $44,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. National Bank of Canada FI grew its stake in shares of AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares in the last quarter. Versant Capital Management Inc raised its position in shares of AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after buying an additional 53 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares during the period. HM Payson & Co. boosted its holdings in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its stake in shares of AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after acquiring an additional 104 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

NASDAQ:APP opened at $330.01 on Wednesday. The firm has a market capitalization of $110.75 billion, a PE ratio of 100.00, a PEG ratio of 4.17 and a beta of 2.29. AppLovin Co. has a 1 year low of $37.95 and a 1 year high of $417.64. 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 firm’s fifty day simple moving average is $308.96 and its 200 day simple moving average is $175.97.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler began coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target for the company. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Benchmark reaffirmed a “sell” rating and issued a $66.00 price target on shares of AppLovin in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $310.71.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by company 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.