AppLovin Corporation $APP Shares Acquired by Moore Capital Management LP

Moore Capital Management LP lifted its stake in AppLovin Corporation (NASDAQ:APP) by 427.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,041 shares of the company’s stock after buying an additional 3,275 shares during the period. Moore Capital Management LP’s holdings in AppLovin were worth $2,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APP. State Street Corp lifted its holdings in shares of AppLovin by 0.4% in the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after purchasing an additional 52,377 shares during the last quarter. Geode Capital Management LLC increased its position in AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock worth $4,817,269,000 after buying an additional 448,005 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in AppLovin by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after buying an additional 212,349 shares during the last quarter. Morgan Stanley boosted its holdings in shares of AppLovin by 10.7% in the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after acquiring an additional 538,806 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in shares of AppLovin by 5.2% in the first quarter. WCM Investment Management LLC now owns 5,001,600 shares of the company’s stock valued at $1,860,995,000 after acquiring an additional 245,290 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total value of $82,620,474.60. Following the completion of the transaction, the director directly owned 6,785,087 shares of the company’s stock, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 294,228 shares of company stock worth $148,403,985 over the last quarter. Insiders own 12.81% of the company’s stock.

AppLovin Trading Down 1.8%

NASDAQ:APP opened at $312.06 on Tuesday. The stock has a fifty day moving average price of $406.39 and a two-hundred day moving average price of $443.03. The stock has a market capitalization of $104.43 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 0.64 and a beta of 2.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. AppLovin Corporation has a 1 year low of $297.50 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Tuesday, August 4th. The company reported $3.76 EPS for the quarter, hitting the consensus estimate of $3.76. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The business’s revenue was up 52.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.39 EPS. As a group, sell-side analysts anticipate that AppLovin Corporation will post 15.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on APP shares. Bank of America reiterated a “neutral” rating and issued a $400.00 price target (down from $430.00) on shares of AppLovin in a research report on Tuesday, August 11th. Wells Fargo & Company dropped their price objective on shares of AppLovin from $357.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Needham & Company LLC reduced their target price on shares of AppLovin from $500.00 to $475.00 and set a “buy” rating for the company in a report on Wednesday, August 26th. Phillip Securities upgraded shares of AppLovin from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Citigroup lowered their price target on AppLovin from $710.00 to $650.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $552.74.

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.