Sands Capital Management LLC Has $986.04 Million Holdings in AppLovin Corporation $APP

Sands Capital Management LLC boosted its stake in AppLovin Corporation (NASDAQ:APP) by 43.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,463,351 shares of the company’s stock after purchasing an additional 446,392 shares during the quarter. AppLovin comprises 3.0% of Sands Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Sands Capital Management LLC’s holdings in AppLovin were worth $986,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Board of the Pension Protection Fund acquired a new position in AppLovin in the fourth quarter valued at about $27,000. Washington Trust Advisors Inc. raised its stake in AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in AppLovin in the fourth quarter valued at about $32,000. Graney & King LLC acquired a new position in AppLovin in the third quarter valued at about $36,000. Finally, Aventura Private Wealth LLC acquired a new position in AppLovin in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Trending Headlines about AppLovin

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Analysts Set New Price Targets

APP has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wedbush reaffirmed an “outperform” rating and issued a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Weiss Ratings cut AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Finally, Argus began coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $669.62.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,042 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the completion of the transaction, the chief executive officer owned 2,369,351 shares in the company, valued at $1,153,755,469.45. This trade represents a 1.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 226,014 shares of company stock worth $113,073,400 over the last three months. 13.66% of the stock is owned by insiders.

AppLovin Price Performance

APP stock opened at $496.77 on Monday. The stock has a market capitalization of $166.88 billion, a P/E ratio of 42.68, a price-to-earnings-growth ratio of 0.81 and a beta of 2.45. 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 12 month low of $320.00 and a 12 month high of $745.61. The firm has a 50-day moving average price of $482.88 and a 200-day moving average price of $520.57.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 EPS 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 analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 earnings per share. As a group, equities research analysts anticipate that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

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.