AppLovin Corporation $APP Shares Sold by Sapient Capital LLC

Sapient Capital LLC decreased its position in AppLovin Corporation (NASDAQ:APP) by 0.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,271,364 shares of the company’s stock after selling 1,098 shares during the period. AppLovin makes up 12.4% of Sapient Capital LLC’s portfolio, making the stock its 2nd largest position. Sapient Capital LLC owned approximately 0.38% of AppLovin worth $881,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in APP. Vanguard Group Inc. grew its holdings 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 buying an additional 7,051,663 shares during the period. State Street Corp grew its holdings in shares of AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter valued at $1,456,108,000. Jennison Associates LLC grew its holdings in shares of AppLovin by 55.2% in the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after buying an additional 1,381,970 shares during the period. Finally, Capital Research Global Investors acquired a new position in shares of AppLovin in the 3rd quarter valued at $743,899,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $501.00 on Monday. The firm has a market cap of $168.31 billion, a PE ratio of 43.04, a PEG ratio of 0.81 and a beta of 2.37. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 1-year low of $320.00 and a 1-year high of $745.61. The company has a fifty day moving average price of $447.26 and a 200 day moving average price of $528.32.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 EPS. Research analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APP shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. UBS Group decreased their price target on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Scotiabank boosted their price target on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 5,231 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the sale, the chief technology officer directly owned 30,658 shares of the company’s stock, valued at $14,638,275.26. The trade was a 14.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 40,704 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at $1,117,625,877.90. This trade represents a 1.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 365,244 shares of company stock valued at $169,584,607 in the last three months. 13.66% of the stock is currently owned by corporate insiders.

About AppLovin

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.