Del Sette Capital Management LLC Sells 2,321 Shares of AppLovin Corporation $APP

Del Sette Capital Management LLC trimmed its holdings in AppLovin Corporation (NASDAQ:APP) by 31.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,162 shares of the company’s stock after selling 2,321 shares during the period. AppLovin comprises about 2.1% of Del Sette Capital Management LLC’s holdings, making the stock its 17th largest position. Del Sette Capital Management LLC’s holdings in AppLovin were worth $3,478,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in APP. Vanguard Group Inc. lifted its position in shares of AppLovin by 39.4% during the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after purchasing an additional 7,051,663 shares in the last quarter. State Street Corp lifted its position in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in shares of AppLovin during the third quarter valued at about $1,456,108,000. Jennison Associates LLC lifted its position in shares of AppLovin by 55.2% during the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock valued at $2,792,355,000 after purchasing an additional 1,381,970 shares in the last quarter. Finally, Capital Research Global Investors bought a new position in shares of AppLovin during the third quarter valued at about $743,899,000. 41.85% of the stock is owned by institutional investors.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business’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 transaction, the chief executive officer directly owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. This represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 365,244 shares of company stock valued at $169,584,607. Corporate insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APP. The Goldman Sachs Group dropped their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Oppenheimer dropped their price target on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Evercore reissued a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Weiss Ratings lowered shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Finally, Wedbush raised their price target on shares of AppLovin from $465.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $673.25.

AppLovin Stock Performance

NASDAQ APP opened at $460.00 on Friday. The company’s 50 day moving average is $437.77 and its 200-day moving average is $536.27. AppLovin Corporation has a 12-month low of $286.85 and a 12-month high of $745.61. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The firm has a market cap of $155.15 billion, a P/E ratio of 47.18, a price-to-earnings-growth ratio of 0.78 and a beta of 2.37.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (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 company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The company’s quarterly revenue was up 66.0% compared to the same quarter last year. Sell-side analysts predict that AppLovin Corporation will post 15.72 earnings per share for the current year.

AppLovin Company 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.