AppLovin Corporation $APP Shares Sold by Augustine Asset Management Inc.

Augustine Asset Management Inc. lowered its stake in shares of AppLovin Corporation (NASDAQ:APP) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 263,330 shares of the company’s stock after selling 4,360 shares during the quarter. AppLovin comprises about 35.4% of Augustine Asset Management Inc.’s holdings, making the stock its largest position. Augustine Asset Management Inc. owned approximately 0.08% of AppLovin worth $177,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Freres Gestion S.A.S. purchased a new stake in shares of AppLovin in the third quarter valued at about $2,514,000. Mediolanum International Funds Ltd raised its holdings in AppLovin by 73.5% during the third quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock worth $54,664,000 after purchasing an additional 32,510 shares in the last quarter. Thames Capital Management LLC raised its holdings in AppLovin by 114.8% during the third quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock worth $12,001,000 after purchasing an additional 8,925 shares in the last quarter. CIBC Asset Management Inc lifted its position in AppLovin by 14.8% in the third quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after purchasing an additional 15,074 shares during the period. Finally, Allworth Financial LP lifted its position in AppLovin by 131.7% in the third quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the sale, the chief executive officer 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 is accessible through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the transaction, the director owned 6,969,382 shares of the company’s stock, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 365,244 shares of company stock valued at $169,584,607 in the last ninety days. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Down 2.6%

Shares of APP opened at $387.84 on Thursday. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $130.81 billion, a P/E ratio of 39.78, a PEG ratio of 0.69 and a beta of 2.50. The firm’s 50-day moving average is $445.59 and its two-hundred day moving average is $565.72.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. The company 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% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. On average, research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

APP has been the topic of several recent analyst reports. BTIG Research dropped their target price on AppLovin from $771.00 to $640.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Arete Research set a $340.00 target price on AppLovin and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings cut AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Citigroup decreased their price target on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, UBS Group set a $740.00 price objective on AppLovin in a report on Thursday, February 12th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $668.20.

About AppLovin

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.