Vicus Capital Cuts Holdings in AppLovin Corporation $APP

Vicus Capital lessened its stake in AppLovin Corporation (NASDAQ:APP) by 18.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 889 shares of the company’s stock after selling 199 shares during the quarter. Vicus Capital’s holdings in AppLovin were worth $311,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in APP. Vanguard Group Inc. raised its holdings in AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock valued at $4,724,594,000 after acquiring an additional 1,213,536 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of AppLovin by 36.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after purchasing an additional 1,769,400 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of AppLovin by 29.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after purchasing an additional 1,185,859 shares in the last quarter. Invesco Ltd. lifted its position in shares of AppLovin by 32.9% during the 1st quarter. Invesco Ltd. now owns 4,011,306 shares of the company’s stock worth $1,062,876,000 after purchasing an additional 992,316 shares during the last quarter. Finally, Kensico Capital Management Corp lifted its position in shares of AppLovin by 12.9% during the 1st quarter. Kensico Capital Management Corp now owns 2,879,000 shares of the company’s stock worth $762,849,000 after purchasing an additional 328,000 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

Shares of NASDAQ APP opened at $683.64 on Friday. The stock has a market cap of $231.24 billion, a P/E ratio of 97.11, a P/E/G ratio of 3.86 and a beta of 2.53. AppLovin Corporation has a twelve month low of $130.54 and a twelve month high of $745.61. The stock has a 50 day moving average of $508.20 and a two-hundred day moving average of $388.02. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm posted $0.89 earnings per share. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. On average, research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the sale, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 125,000 shares of AppLovin stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the transaction, the director owned 7,283,292 shares in the company, valued at $3,394,014,072. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,156,788 shares of company stock valued at $514,863,333 in the last quarter. Corporate insiders own 13.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on APP shares. Citigroup raised their price target on AppLovin from $600.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Research upgraded AppLovin to a “strong-buy” rating in a report on Friday, August 8th. Benchmark boosted their target price on AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Wedbush upped their price target on AppLovin from $620.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Finally, UBS Group raised their price objective on shares of AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $578.86.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.