Sapient Capital LLC Cuts Position in AppLovin Co. (NASDAQ:APP)

Sapient Capital LLC reduced its stake in AppLovin Co. (NASDAQ:APPFree Report) by 47.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,552,580 shares of the company’s stock after selling 1,387,654 shares during the period. AppLovin accounts for 4.1% of Sapient Capital LLC’s portfolio, making the stock its 4th largest position. Sapient Capital LLC owned approximately 0.46% of AppLovin worth $202,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of APP. ORG Wealth Partners LLC purchased a new position in AppLovin during the third quarter valued at $42,000. Annex Advisory Services LLC grew its position in shares of AppLovin by 21.0% in the 3rd quarter. Annex Advisory Services LLC now owns 242,219 shares of the company’s stock worth $31,622,000 after buying an additional 42,073 shares during the period. Burns Matteson Capital Management LLC purchased a new position in AppLovin during the 3rd quarter valued at about $513,000. Ritholtz Wealth Management boosted its stake in AppLovin by 106.3% during the third quarter. Ritholtz Wealth Management now owns 15,420 shares of the company’s stock worth $2,013,000 after acquiring an additional 7,946 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in AppLovin by 2,100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,600 shares of the company’s stock worth $861,000 after purchasing an additional 6,300 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on APP shares. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their target price for the company from $103.00 to $150.00 in a report on Monday. Wedbush dropped their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Macquarie reissued an “outperform” rating and issued a $150.00 target price (up from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group raised their price objective on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $110.01.

Check Out Our Latest Research Report on APP

Insider Buying and Selling at AppLovin

In other news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at $88,121,489.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 610,094 shares of company stock valued at $51,022,478. Insiders own 14.69% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $143.48 on Monday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $147.60. The stock has a market capitalization of $47.96 billion, a price-to-earnings ratio of 62.55, a PEG ratio of 2.07 and a beta of 1.92. The business’s fifty day moving average price is $104.70 and its 200-day moving average price is $87.78.

AppLovin (NASDAQ:APPGet Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, equities analysts predict that AppLovin Co. will post 3.46 earnings per share for the current year.

AppLovin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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