Del Sette Capital Management LLC Lowers Holdings in AppLovin Corporation $APP

Del Sette Capital Management LLC reduced its stake in shares of AppLovin Corporation (NASDAQ:APP) by 27.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,483 shares of the company’s stock after selling 2,820 shares during the quarter. AppLovin comprises 3.3% of Del Sette Capital Management LLC’s holdings, making the stock its 7th largest position. Del Sette Capital Management LLC’s holdings in AppLovin were worth $5,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. Chilton Capital Management LLC bought a new stake in shares of AppLovin in the 3rd quarter worth about $29,000. Activest Wealth Management boosted its position in AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after buying an additional 38 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new position in AppLovin in the third quarter valued at about $33,000. CBIZ Investment Advisory Services LLC grew its stake in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the last quarter. Finally, Bogart Wealth LLC grew its stake in AppLovin by 100.0% during the third quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock worth $34,000 after buying an additional 24 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

APP stock opened at $459.09 on Wednesday. The company has a 50 day moving average price of $487.56 and a 200 day moving average price of $574.47. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The stock has a market capitalization of $154.84 billion, a PE ratio of 47.09, a price-to-earnings-growth ratio of 0.80 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS 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 return on equity of 245.64% and a net margin of 57.42%.The business’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same period last year, the company earned $1.73 EPS. Analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares of the company’s stock, valued at approximately $1,583,462,445.39. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the sale, the insider owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. This represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 188,033 shares of company stock worth $90,662,374 over the last 90 days. Insiders own 13.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APP. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. BTIG Research dropped their price target on AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Weiss Ratings downgraded AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. UBS Group set a $740.00 price objective on AppLovin in a research note on Thursday, February 12th. Finally, Morgan Stanley set a $720.00 target price on AppLovin in a research note on Thursday, February 12th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $654.50.

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.