Caprock Group LLC Has $12.27 Million Stock Position in AppLovin Corporation $APP

Caprock Group LLC lowered its holdings in AppLovin Corporation (NASDAQ:APP) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,203 shares of the company’s stock after selling 1,339 shares during the period. Caprock Group LLC’s holdings in AppLovin were worth $12,266,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of AppLovin by 0.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 294,591 shares of the company’s stock worth $199,294,000 after acquiring an additional 1,479 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in AppLovin by 31.0% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 477 shares of the company’s stock valued at $321,000 after purchasing an additional 113 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in AppLovin by 45.3% in the 4th quarter. Salomon & Ludwin LLC now owns 125 shares of the company’s stock valued at $79,000 after purchasing an additional 39 shares during the last quarter. Optas LLC lifted its stake in AppLovin by 11.5% in the 4th quarter. Optas LLC now owns 978 shares of the company’s stock valued at $659,000 after purchasing an additional 101 shares during the last quarter. Finally, Finivi Inc. lifted its stake in AppLovin by 3.2% in the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 3.6%

APP opened at $473.18 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The company’s 50-day moving average is $430.05 and its 200 day moving average is $542.65. AppLovin Corporation has a fifty-two week low of $227.05 and a fifty-two week high of $745.61. The firm has a market capitalization of $159.59 billion, a P/E ratio of 48.53, a PEG ratio of 0.85 and a beta of 2.50.

AppLovin (NASDAQ:APP) last released its quarterly earnings results 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. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the firm earned $1.73 earnings per share. The firm’s revenue was up 66.0% on a year-over-year basis. Research analysts expect that AppLovin Corporation will post 15.72 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at $1,583,462,445.39. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of AppLovin stock in a transaction dated 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 owned 2,480,414 shares of the company’s stock, valued at $1,155,972,140.56. The trade was a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 365,244 shares of company stock worth $169,584,607 over the last quarter. Corporate insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of AppLovin from $543.00 to $560.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. Evercore restated a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Wedbush increased their price objective on shares of AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Benchmark reiterated a “buy” rating on shares of AppLovin in a research report on Friday, March 6th. Finally, Arete Research set a $340.00 price target on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $661.95.

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.