Sava Infond d.o.o. Decreases Stock Holdings in AppLovin Corporation (NASDAQ:APP)

Sava Infond d.o.o. reduced its holdings in AppLovin Corporation (NASDAQ:APP) by 25.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 300 shares of the company’s stock after selling 100 shares during the period. Sava Infond d.o.o.’s holdings in AppLovin were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC increased its stake in AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares during the last quarter. SVB Wealth LLC purchased a new stake in AppLovin during the 4th quarter valued at $1,781,922,000. Geode Capital Management LLC lifted its position in AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after buying an additional 573,310 shares during the last quarter. Invesco Ltd. boosted its stake in AppLovin by 68.0% during the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company’s stock worth $977,639,000 after buying an additional 1,222,074 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after acquiring an additional 2,373,885 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 6,585 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the sale, the insider now directly owns 357,903 shares of the company’s stock, valued at $132,506,427.69. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig Scott Billings sold 12,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $353.12, for a total value of $4,237,440.00. Following the completion of the transaction, the director now owns 2,987 shares of the company’s stock, valued at $1,054,769.44. This trade represents a 80.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock worth $455,062,980 in the last 90 days. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Up 3.3%

AppLovin stock opened at $335.40 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. The firm has a market cap of $113.50 billion, a P/E ratio of 60.54, a P/E/G ratio of 1.89 and a beta of 2.53. The business has a fifty day moving average of $335.19 and a two-hundred day moving average of $333.39. AppLovin Corporation has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APP. HSBC set a $436.00 target price on shares of AppLovin and gave the stock a “buy” rating in a report on Wednesday, April 23rd. UBS Group boosted their target price on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Piper Sandler increased their price target on AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Benchmark reissued a “buy” rating and set a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $438.10.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.