Sei Investments Co. Has $187.77 Million Stock Position in AppLovin Corporation $APP

Sei Investments Co. increased its stake in AppLovin Corporation (NASDAQ:APP) by 16.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 471,774 shares of the company’s stock after purchasing an additional 65,890 shares during the period. Sei Investments Co.’s holdings in AppLovin were worth $187,768,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Generate Investment Management Ltd bought a new position in shares of AppLovin in the fourth quarter worth about $2,347,000. Calamos Advisors LLC grew its holdings in shares of AppLovin by 73.3% during the 4th quarter. Calamos Advisors LLC now owns 48,737 shares of the company’s stock valued at $32,840,000 after purchasing an additional 20,609 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new position in AppLovin during the 4th quarter worth approximately $4,043,000. SG Americas Securities LLC increased its position in AppLovin by 114.7% during the 4th quarter. SG Americas Securities LLC now owns 77,158 shares of the company’s stock worth $51,991,000 after purchasing an additional 41,215 shares in the last quarter. Finally, Dara Capital US Inc. bought a new position in AppLovin in the 4th quarter valued at approximately $1,747,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on APP shares. Argus assumed coverage on shares of AppLovin in a research report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research note on Tuesday, July 7th. KeyCorp set a $775.00 price objective on AppLovin in a report on Wednesday, June 10th. Finally, UBS Group reduced their price objective on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $668.45.

AppLovin Stock Down 3.8%

NASDAQ:APP opened at $412.48 on Thursday. AppLovin Corporation has a one year low of $349.21 and a one year high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The company has a market cap of $138.57 billion, a PE ratio of 35.44, a P/E/G ratio of 0.70 and a beta of 2.49. The firm’s 50 day simple moving average is $502.88 and its 200 day simple moving average is $482.25.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 EPS. On average, research analysts anticipate that AppLovin Corporation will post 15.93 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of AppLovin stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the transaction, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victoria Valenzuela sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the sale, the insider owned 243,961 shares in the company, valued at $138,055,090.29. This trade represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 393,000 shares of company stock valued at $197,297,363 over the last quarter. 12.81% of the stock is currently owned by company insiders.

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.