AppLovin Corporation $APP is Lone Pine Capital LLC’s 4th Largest Position

Lone Pine Capital LLC cut its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 29.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,109,138 shares of the company’s stock after selling 467,796 shares during the quarter. AppLovin makes up approximately 5.8% of Lone Pine Capital LLC’s holdings, making the stock its 4th largest holding. Lone Pine Capital LLC owned about 0.33% of AppLovin worth $796,960,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in APP. Chilton Capital Management LLC bought a new stake in shares of AppLovin in the third quarter worth $29,000. Activest Wealth Management raised its holdings in AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in AppLovin during the 2nd quarter valued at $33,000. Heartwood Wealth Advisors LLC bought a new position in AppLovin during the 3rd quarter valued at $33,000. Finally, CBIZ Investment Advisory Services LLC grew its holdings in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Trading Down 1.2%

AppLovin stock opened at $453.30 on Tuesday. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The firm’s 50-day moving average is $490.72 and its 200-day moving average is $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 company has a market cap of $152.89 billion, a P/E ratio of 46.49, a PEG ratio of 0.81 and a beta of 2.51.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on APP. Arete Research set a $340.00 target price on shares of AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Scotiabank increased their price target on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Weiss Ratings downgraded AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Citigroup lowered their price objective on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Jefferies Financial Group cut their price objective on AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a research note 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $654.50.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 50,000 shares of the company’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 represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction that occurred 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 sale, the insider owned 277,110 shares in the company, valued at $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 188,033 shares of company stock worth $90,662,374 over the last ninety days. Company insiders own 13.66% of the company’s stock.

AppLovin 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.