Del Sette Capital Management LLC Has $5.38 Million Stake in AppLovin Corporation $APP

Del Sette Capital Management LLC cut its position in AppLovin Corporation (NASDAQ:APP) by 27.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,483 shares of the company’s stock after selling 2,820 shares during the quarter. AppLovin makes up about 3.3% of Del Sette Capital Management LLC’s holdings, making the stock its 7th biggest position. Del Sette Capital Management LLC’s holdings in AppLovin were worth $5,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC increased its stake in shares of AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the period. Versant Capital Management Inc boosted its stake in AppLovin by 2.8% during the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock valued at $504,000 after purchasing an additional 19 shares during the period. Claro Advisors LLC grew its holdings in AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after buying an additional 20 shares during the last quarter. Optas LLC grew its holdings in AppLovin by 2.5% in the 3rd quarter. Optas LLC now owns 877 shares of the company’s stock valued at $630,000 after buying an additional 21 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its position in AppLovin by 19.6% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock worth $96,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $459.09 on Wednesday. The firm has a market capitalization of $154.84 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 0.80 and a beta of 2.51. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The business has a fifty day simple moving average of $487.56 and a 200 day simple moving average of $574.47. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The business’s revenue was up 66.0% compared to the same quarter last year. Sell-side analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on APP. Wedbush increased their price objective on AppLovin from $465.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Wells Fargo & Company cut their target price 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. Citigroup reduced their price target on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Morgan Stanley set a $720.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Finally, UBS Group set a $740.00 price objective on shares of AppLovin in a report on Thursday, February 12th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $654.50.

Insider Activity

In related news, CTO Vasily Shikin sold 5,231 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares of the company’s stock, valued at $14,638,275.26. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 277,110 shares of the company’s stock, valued at $182,097,294.30. This trade represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 188,033 shares of company stock worth $90,662,374. Corporate insiders own 13.66% of the company’s stock.

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.