AppLovin Corporation $APP is Steadview Capital Management LLC’s 3rd Largest Position

Steadview Capital Management LLC decreased its position in AppLovin Corporation (NASDAQ:APP) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,865 shares of the company’s stock after selling 18,410 shares during the period. AppLovin accounts for 18.6% of Steadview Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Steadview Capital Management LLC’s holdings in AppLovin were worth $98,961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new stake in AppLovin in the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. increased its stake in AppLovin by 160.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in AppLovin in the 3rd quarter valued at about $29,000. Activest Wealth Management increased its stake in AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after buying an additional 38 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in AppLovin in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on APP. Benchmark reiterated a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Wedbush restated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Morgan Stanley set a $720.00 price target on shares of AppLovin in a research note on Thursday, February 12th. Arete Research set a $340.00 price target on shares of AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 163,910 shares of the firm’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 value of $74,331,545.90. Following the completion of the transaction, the director directly owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of 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 trade represents a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 365,244 shares of company stock valued at $169,584,607. Company insiders own 13.66% of the company’s stock.

AppLovin Trading Down 0.9%

Shares of APP stock opened at $481.68 on Friday. The company has a 50 day moving average of $446.31 and a 200-day moving average of $523.95. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61. The firm has a market cap of $161.82 billion, a P/E ratio of 41.38, a PEG ratio of 0.79 and a beta of 2.37.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $1.67 EPS. AppLovin’s quarterly revenue was up 58.9% compared to the same quarter last year. Sell-side analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current year.

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.