AppLovin Corporation $APP Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 4.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 91,560 shares of the company’s stock after selling 4,390 shares during the period. KLP Kapitalforvaltning AS’s holdings in AppLovin were worth $61,695,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new stake in AppLovin during the 3rd quarter worth about $29,000. Board of the Pension Protection Fund acquired a new stake in AppLovin during the 4th quarter worth about $27,000. Activest Wealth Management grew its position in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares during the period. CBIZ Investment Advisory Services LLC grew its position in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the period. Finally, Bogart Wealth LLC grew its position in AppLovin by 100.0% during the 3rd quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock worth $34,000 after purchasing an additional 24 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Argus initiated coverage on shares of AppLovin in a research note on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price on the stock. Arete Research set a $340.00 target price on shares of AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $650.00 target price (down from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $661.95.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% 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 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is owned by corporate insiders.

AppLovin Trading Down 3.6%

APP stock opened at $473.18 on Wednesday. The company’s 50-day simple moving average is $430.05 and its 200-day simple moving average is $542.65. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 52-week low of $227.05 and a 52-week high of $745.61. The firm has a market cap of $159.59 billion, a P/E ratio of 48.53, a PEG ratio of 0.85 and a beta of 2.50.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. AppLovin’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. As a group, equities analysts forecast that AppLovin Corporation will post 15.72 EPS for the current fiscal year.

AppLovin Company Profile

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.