AppLovin Co. (NASDAQ:APP) Shares Purchased by Swiss National Bank

Swiss National Bank lifted its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 13.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 606,290 shares of the company's stock after purchasing an additional 74,200 shares during the period. Swiss National Bank owned about 0.18% of AppLovin worth $79,151,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in AppLovin during the third quarter valued at about $25,000. DT Investment Partners LLC purchased a new stake in AppLovin in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the 3rd quarter valued at about $29,000. Quest Partners LLC purchased a new stake in shares of AppLovin during the 2nd quarter valued at $33,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in AppLovin during the 2nd quarter valued at about $34,000. Institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 154,500 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the sale, the chief technology officer now directly owns 4,530,455 shares of the company's stock, valued at $381,192,483.70. This represents a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Performance

AppLovin stock traded up $4.51 during mid-day trading on Wednesday, reaching $325.70. The company's stock had a trading volume of 6,597,065 shares, compared to its average volume of 4,421,781. The company has a market capitalization of $109.30 billion, a P/E ratio of 98.79, a PEG ratio of 3.58 and a beta of 1.86. The firm's fifty day moving average price is $168.07 and its two-hundred day moving average price is $112.43. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $342.51. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company's revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. Sell-side analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on APP shares. The Goldman Sachs Group downgraded AppLovin from a "buy" rating to a "neutral" rating and raised their target price for the company from $103.00 to $150.00 in a research report on Monday, October 14th. UBS Group raised AppLovin from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Citigroup upped their price objective on shares of AppLovin from $185.00 to $335.00 and gave the company a "buy" rating in a research note on Monday. Benchmark restated a "sell" rating and set a $66.00 price objective on shares of AppLovin in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on AppLovin from $160.00 to $200.00 and gave the company a "neutral" rating 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, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $222.96.

AppLovin Company 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.