Sapient Capital LLC Decreases Stake in AppLovin Co. (NASDAQ:APP)

Sapient Capital LLC decreased its holdings in AppLovin Co. (NASDAQ:APP) by 47.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,552,580 shares of the company’s stock after selling 1,387,654 shares during the period. AppLovin accounts for about 4.1% of Sapient Capital LLC’s portfolio, making the stock its 4th biggest holding. Sapient Capital LLC’s holdings in AppLovin were worth $202,689,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fred Alger Management LLC bought a new position in shares of AppLovin during the 2nd quarter valued at about $290,655,000. Whale Rock Capital Management LLC bought a new stake in AppLovin in the 1st quarter worth approximately $195,129,000. Jericho Capital Asset Management L.P. raised its holdings in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after acquiring an additional 2,525,240 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after acquiring an additional 1,357,400 shares in the last quarter. Finally, Jackson Square Partners LLC bought a new position in shares of AppLovin during the 1st quarter valued at approximately $54,736,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APP. Jefferies Financial Group upped their price target 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. Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. Wedbush decreased their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Citigroup lifted their target price on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Bank of America increased their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $110.01.

Insider Activity at AppLovin

In other news, Director Eduardo Vivas sold 229,200 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares in the company, valued at $640,067,216.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 over the last three months. 14.69% of the stock is owned by corporate insiders.

AppLovin Price Performance

Shares of APP stock opened at $143.48 on Monday. The company has a market capitalization of $47.96 billion, a P/E ratio of 62.55, a P/E/G ratio of 2.07 and a beta of 1.92. The company’s 50-day simple moving average is $104.70 and its two-hundred day simple moving average is $87.78. AppLovin Co. has a one year low of $34.45 and a one year high of $147.60. 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 (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.22 EPS. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. As a group, equities analysts anticipate that AppLovin Co. will post 3.46 EPS for the current year.

AppLovin Company Profile

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.