Second Line Capital LLC Has $14.96 Million Holdings in AppLovin Corporation $APP

Second Line Capital LLC lowered its holdings in AppLovin Corporation (NASDAQ:APP) by 23.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,813 shares of the company’s stock after selling 6,333 shares during the quarter. AppLovin comprises about 3.1% of Second Line Capital LLC’s investment portfolio, making the stock its 9th largest position. Second Line Capital LLC’s holdings in AppLovin were worth $14,955,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of AppLovin by 39.4% in the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after buying an additional 7,051,663 shares in the last quarter. State Street Corp lifted its position in AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Invesco Ltd. lifted its position in AppLovin by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock worth $3,084,514,000 after buying an additional 367,083 shares in the last quarter. Jennison Associates LLC grew its holdings in AppLovin by 55.2% during the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock worth $2,792,355,000 after acquiring an additional 1,381,970 shares during the last quarter. Finally, Kensico Capital Management Corp increased its position in AppLovin by 3.1% in the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock valued at $2,240,767,000 after acquiring an additional 95,000 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 1.3%

Shares of AppLovin stock opened at $459.09 on Wednesday. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The business has a fifty day simple moving average of $487.56 and a 200 day simple moving average of $574.47. The stock has a market cap of $154.84 billion, a PE ratio of 47.09, a price-to-earnings-growth ratio of 0.80 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company posted $1.73 EPS. AppLovin’s revenue for the quarter was up 66.0% on a year-over-year basis. Research analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $477.47, for a total value of $2,497,645.57. Following the transaction, the chief technology officer owned 30,658 shares of the company’s stock, valued at approximately $14,638,275.26. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 40,704 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the transaction, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 188,033 shares of company stock valued at $90,662,374. 13.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APP. Morgan Stanley set a $720.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Scotiabank raised their price target on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Jefferies Financial Group reduced their price objective on AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Benchmark reiterated a “buy” rating on shares of AppLovin in a research report on Friday, March 6th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $654.50.

AppLovin 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.