Forsta AP Fonden Sells 21,500 Shares of AppLovin Co. (NASDAQ:APP)

Forsta AP Fonden trimmed its position in shares of AppLovin Co. (NASDAQ:APP) by 23.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,500 shares of the company’s stock after selling 21,500 shares during the period. Forsta AP Fonden’s holdings in AppLovin were worth $22,830,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. National Bank of Canada FI raised its position in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after buying an additional 53 shares during the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of AppLovin by 54.7% in the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock valued at $70,000 after acquiring an additional 76 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the transaction, the director now directly owns 6,684 shares of the company’s stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APP. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Macquarie raised their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Benchmark started coverage on shares of AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 price objective on the stock. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research note on Tuesday, December 10th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Stock Up 5.2 %

Shares of NASDAQ:APP opened at $360.75 on Wednesday. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64. The stock has a market cap of $121.06 billion, a P/E ratio of 109.32, a PEG ratio of 2.96 and a beta of 2.29. The business has a fifty day moving average of $339.10 and a two-hundred day moving average of $203.00. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

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