TB Alternative Assets Ltd. Decreases Stock Position in AppLovin Corporation $APP

TB Alternative Assets Ltd. lessened its holdings in AppLovin Corporation (NASDAQ:APP) by 79.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,221 shares of the company’s stock after selling 4,679 shares during the quarter. TB Alternative Assets Ltd.’s holdings in AppLovin were worth $823,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of APP. Vanguard Group Inc. raised its position in shares of AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after purchasing an additional 7,051,663 shares during the last quarter. State Street Corp boosted its stake in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Invesco Ltd. grew its position in AppLovin by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock worth $3,084,514,000 after purchasing an additional 367,083 shares during the last quarter. Jennison Associates LLC increased its stake in AppLovin by 55.2% during the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after purchasing an additional 1,381,970 shares in the last quarter. Finally, Kensico Capital Management Corp increased its stake in AppLovin by 3.1% during the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock valued at $2,240,767,000 after purchasing an additional 95,000 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 2.6%

APP opened at $387.84 on Thursday. The company has a market cap of $130.81 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 0.69 and a beta of 2.50. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The company has a 50-day moving average price of $445.59 and a 200 day moving average price of $565.72. 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 (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business earned $1.73 EPS. AppLovin’s quarterly revenue was up 66.0% on a year-over-year basis. Sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

APP has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Zacks Research downgraded AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Evercore restated a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. Wedbush lifted their price target on AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings downgraded AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $668.20.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 40,704 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the completion of the sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction on 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 completion of the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by corporate insiders.

AppLovin 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.