Sapient Capital LLC Sells 8,029 Shares of AppLovin Corporation $APP

Sapient Capital LLC trimmed its holdings in AppLovin Corporation (NASDAQ:APP) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,272,462 shares of the company’s stock after selling 8,029 shares during the quarter. AppLovin comprises approximately 14.0% of Sapient Capital LLC’s portfolio, making the stock its 2nd biggest position. Sapient Capital LLC’s holdings in AppLovin were worth $906,451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new stake in shares of AppLovin during the 2nd quarter worth approximately $26,000. LFA Lugano Financial Advisors SA purchased a new stake in AppLovin in the second quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in AppLovin in the second quarter valued at $33,000. Heartwood Wealth Advisors LLC purchased a new position in shares of AppLovin during the third quarter worth about $33,000. Finally, Hoey Investments Inc. acquired a new stake in shares of AppLovin during the second quarter worth about $35,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on APP shares. BTIG Research reissued a “buy” rating and issued a $771.00 target price on shares of AppLovin in a research report on Wednesday, December 17th. Scotiabank raised their target price on shares of AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. The Goldman Sachs Group upped their price target on shares of AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Wells Fargo & Company raised their price objective on shares of AppLovin from $633.00 to $721.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Jefferies Financial Group lifted their price objective on shares of AppLovin from $800.00 to $860.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Nineteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $695.90.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 27,143 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of the company’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 directly owned 277,110 shares in the company, valued at $182,097,294.30. This represents a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 340,336 shares of company stock worth $200,062,623 over the last quarter. 13.66% of the stock is owned by company insiders.

AppLovin Stock Down 1.8%

Shares of AppLovin stock opened at $714.23 on Friday. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The company has a market cap of $241.37 billion, a P/E ratio of 86.68, a PEG ratio of 3.83 and a beta of 2.51. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. The firm has a fifty day moving average of $629.93 and a two-hundred day moving average of $523.30.

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

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.