Kinetic Partners Management LP Increases Stock Holdings in AppLovin Corporation $APP

Kinetic Partners Management LP raised its position in AppLovin Corporation (NASDAQ:APP) by 7.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 128,106 shares of the company’s stock after acquiring an additional 8,930 shares during the period. AppLovin makes up about 4.5% of Kinetic Partners Management LP’s holdings, making the stock its 6th largest position. Kinetic Partners Management LP’s holdings in AppLovin were worth $92,049,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of APP. Lazard Freres Gestion S.A.S. bought a new position in shares of AppLovin in the third quarter valued at $2,514,000. Mediolanum International Funds Ltd increased its position in shares of AppLovin by 73.5% during the third quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock worth $54,664,000 after acquiring an additional 32,510 shares in the last quarter. Thames Capital Management LLC raised its holdings in shares of AppLovin by 114.8% in the 3rd quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock worth $12,001,000 after acquiring an additional 8,925 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of AppLovin by 14.8% in the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock worth $84,160,000 after acquiring an additional 15,074 shares during the last quarter. Finally, APG Asset Management N.V. bought a new position in AppLovin in the 3rd quarter valued at about $4,958,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on APP. Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. UBS Group set a $740.00 target price on AppLovin in a report on Thursday, February 12th. Evercore reaffirmed a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of AppLovin in a report on Wednesday, March 11th. Finally, Jefferies Financial Group lowered their price target on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $654.50.

AppLovin Trading Down 1.2%

NASDAQ:APP opened at $453.30 on Tuesday. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61. The firm has a 50-day moving average price of $490.72 and a two-hundred day moving average price of $574.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.32 and a current ratio of 3.32. The firm has a market cap of $152.89 billion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 0.81 and a beta of 2.51.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company’s revenue was up 66.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. On average, equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total value of $5,000,102.17. Following the transaction, the insider owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 188,033 shares of company stock valued at $90,662,374. Insiders own 13.66% of the company’s stock.

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.