AppLovin Corporation $APP Shares Sold by Berkshire Capital Holdings Inc.

Berkshire Capital Holdings Inc. trimmed its stake in AppLovin Corporation (NASDAQ:APP) by 38.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,030 shares of the company’s stock after selling 10,630 shares during the quarter. AppLovin makes up 3.8% of Berkshire Capital Holdings Inc.’s holdings, making the stock its 11th largest holding. Berkshire Capital Holdings Inc.’s holdings in AppLovin were worth $11,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Cumberland Partners Ltd grew its holdings in shares of AppLovin by 50.0% in the 4th quarter. Cumberland Partners Ltd now owns 6,000 shares of the company’s stock worth $4,043,000 after acquiring an additional 2,000 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of AppLovin in the 4th quarter worth $20,215,000. Legato Capital Management LLC acquired a new position in shares of AppLovin in the 4th quarter worth $567,000. Lloyd Advisory Services LLC. acquired a new position in shares of AppLovin in the 4th quarter worth $69,000. Finally, Advisory Alpha LLC acquired a new position in shares of AppLovin in the 4th quarter worth $351,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Arete Research set a $340.00 target price on AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Wedbush restated an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Piper Sandler lifted their price target on AppLovin from $650.00 to $665.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $664.35.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 62,804 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at $1,583,462,445.39. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. This trade represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 365,244 shares of company stock worth $169,584,607 over the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $481.68 on Friday. The business’s 50-day moving average price is $446.31 and its two-hundred day moving average price is $523.95. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The company has a market capitalization of $161.82 billion, a P/E ratio of 41.38, a price-to-earnings-growth ratio of 0.79 and a beta of 2.37.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. The business’s quarterly revenue was up 58.9% compared to the same quarter last year. Analysts anticipate that AppLovin Corporation will post 15.86 earnings per share for the current fiscal 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.