Sands Capital Management LLC Cuts Position in AppLovin Corporation $APP

Sands Capital Management LLC lessened its position in AppLovin Corporation (NASDAQ:APP) by 60.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 817,346 shares of the company’s stock after selling 1,240,847 shares during the period. Sands Capital Management LLC’s holdings in AppLovin were worth $286,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in AppLovin by 0.4% in the second quarter. Vanguard Group Inc. now owns 17,902,795 shares of the company’s stock worth $6,267,410,000 after buying an additional 72,120 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AppLovin by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after purchasing an additional 1,769,400 shares in the last quarter. Invesco Ltd. boosted its position in shares of AppLovin by 32.9% in the first quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock worth $1,062,876,000 after purchasing an additional 992,316 shares during the period. Kensico Capital Management Corp increased its stake in shares of AppLovin by 12.9% in the first quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock worth $762,849,000 after purchasing an additional 328,000 shares in the last quarter. Finally, Fred Alger Management LLC raised its position in shares of AppLovin by 12.0% during the 1st quarter. Fred Alger Management LLC now owns 2,833,792 shares of the company’s stock valued at $750,870,000 after purchasing an additional 303,063 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 150,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total value of $97,636,500.00. Following the transaction, the director directly owned 7,133,292 shares of the company’s stock, valued at approximately $4,643,131,095.72. The trade was a 2.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 367,927 shares of company stock worth $212,707,362. 13.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APP shares. Phillip Securities raised AppLovin to a “moderate buy” rating in a research note on Monday, September 29th. Citigroup lowered their target price on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. JPMorgan Chase & Co. upped their target price on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $705.00 price objective on AppLovin and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, BTIG Research boosted their price objective on shares of AppLovin from $693.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Twenty-one investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $658.27.

AppLovin Trading Up 4.7%

Shares of AppLovin stock opened at $653.00 on Wednesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The stock’s 50 day simple moving average is $607.16 and its 200-day simple moving average is $484.07. The stock has a market cap of $220.68 billion, a P/E ratio of 79.25, a P/E/G ratio of 3.34 and a beta of 2.51. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business earned $1.29 EPS. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. Analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.