AppLovin Corporation $APP is Sapient Capital LLC’s 2nd Largest Position

Sapient Capital LLC lowered its holdings in AppLovin Corporation (NASDAQ:APP) by 0.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,272,462 shares of the company’s stock after selling 8,029 shares during the quarter. AppLovin accounts for 14.0% of Sapient Capital LLC’s holdings, making the stock its 2nd largest holding. Sapient Capital LLC owned 0.38% of AppLovin worth $906,451,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hilltop National Bank purchased a new stake in AppLovin in the 2nd quarter valued at about $26,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of AppLovin in the 2nd quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of AppLovin in the 2nd quarter valued at approximately $33,000. Heartwood Wealth Advisors LLC acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $33,000. Finally, Hoey Investments Inc. purchased a new position in shares of AppLovin during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APP. Wedbush lifted their target price on shares of AppLovin from $745.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley lifted their price objective on AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft set a $705.00 price objective on AppLovin and gave the company a “buy” rating in a report on Wednesday, October 22nd. Scotiabank raised their target price on AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Jefferies Financial Group lifted their target price on AppLovin from $800.00 to $860.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Nineteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $695.90.

Insider Buying and Selling

In other AppLovin news, Director Eduardo Vivas sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the completion of the transaction, the director owned 7,133,292 shares in the company, valued at $4,643,131,095.72. The trade was a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the sale, the chief technology officer directly owned 3,323,681 shares in the company, valued at approximately $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 340,336 shares of company stock worth $200,062,623 over the last 90 days. 13.66% of the stock is owned by insiders.

AppLovin Trading Down 1.8%

APP opened at $714.23 on Friday. The business has a fifty day moving average price of $629.93 and a 200 day moving average price of $523.30. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The stock has a market capitalization of $241.37 billion, a price-to-earnings ratio of 86.68, a PEG ratio of 3.83 and a beta of 2.51.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned $1.29 EPS. AppLovin’s revenue for the quarter was up 68.2% compared to the same quarter last year. Sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

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.