AppLovin Corporation $APP Stake Lifted by Kinetic Partners Management LP

Kinetic Partners Management LP grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 7.5% in the third quarter, Holdings Channel reports. The fund owned 128,106 shares of the company’s stock after acquiring an additional 8,930 shares during the quarter. AppLovin accounts for about 4.5% of Kinetic Partners Management LP’s portfolio, making the stock its 6th largest position. Kinetic Partners Management LP’s holdings in AppLovin were worth $92,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of APP. CBIZ Investment Advisory Services LLC raised its holdings in shares of AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the period. Versant Capital Management Inc lifted its stake in AppLovin by 2.8% in the third quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock valued at $504,000 after purchasing an additional 19 shares during the last quarter. Claro Advisors LLC grew its holdings in AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after purchasing an additional 20 shares during the period. Optas LLC increased its position in AppLovin by 2.5% in the third quarter. Optas LLC now owns 877 shares of the company’s stock worth $630,000 after buying an additional 21 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its position in AppLovin by 19.6% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock worth $96,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the sale, the insider directly owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of the firm’s 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 transaction, the chief technology officer owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. This trade represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 188,033 shares of company stock worth $90,662,374 in the last quarter. 13.66% of the stock is owned by company insiders.

AppLovin Price Performance

AppLovin stock opened at $453.30 on Tuesday. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The business has a fifty day moving average price of $490.72 and a 200-day moving average price of $574.61. 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 $152.89 billion, a P/E ratio of 46.49, a PEG ratio of 0.81 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 the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the business earned $1.73 earnings per share. The firm’s quarterly revenue was up 66.0% compared to the same quarter last year. As a group, equities research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on APP. The Goldman Sachs Group lowered their target price on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Oppenheimer decreased their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Morgan Stanley set a $720.00 price objective on AppLovin in a research note on Thursday, February 12th. Scotiabank upped their price objective on shares of AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Finally, Weiss Ratings lowered shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $654.50.

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.