TB Alternative Assets Ltd. Reduces Stock Position in AppLovin Corporation $APP

TB Alternative Assets Ltd. lessened its holdings in AppLovin Corporation (NASDAQ:APP) by 79.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,221 shares of the company’s stock after selling 4,679 shares during the quarter. TB Alternative Assets Ltd.’s holdings in AppLovin were worth $823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Board of the Pension Protection Fund bought a new position in shares of AppLovin in the fourth quarter worth about $27,000. Chilton Capital Management LLC purchased a new stake in AppLovin in the 3rd quarter valued at about $29,000. Activest Wealth Management grew its stake in AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after acquiring an additional 38 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in AppLovin in the 2nd quarter worth about $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in shares of AppLovin during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the sale, the chief technology officer owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the sale, the chief executive officer owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. This trade represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 in the last 90 days. 13.66% of the stock is owned by corporate insiders.

AppLovin Price Performance

APP opened at $387.84 on Thursday. The business’s 50-day moving average is $445.59 and its two-hundred day moving average is $565.72. AppLovin Corporation has a 1 year low of $200.50 and a 1 year 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 firm has a market capitalization of $130.81 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 0.69 and a beta of 2.50.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Oppenheimer decreased their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Arete Research set a $340.00 price objective on AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Morgan Stanley set a $720.00 price objective on AppLovin in a report on Thursday, February 12th. BTIG Research lowered their target price on AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $650.00 target price (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $668.20.

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.