6,000 Shares in AppLovin Corporation $APP Acquired by Capricorn Fund Managers Ltd

Capricorn Fund Managers Ltd bought a new position in AppLovin Corporation (NASDAQ:APP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $4,043,000.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of AppLovin by 39.4% in the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after buying an additional 7,051,663 shares in the last quarter. State Street Corp grew its position in AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Invesco Ltd. increased its stake in AppLovin by 9.4% in the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company’s stock worth $3,084,514,000 after acquiring an additional 367,083 shares during the last quarter. Jennison Associates LLC increased its stake in AppLovin by 55.2% in the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company’s stock worth $2,792,355,000 after acquiring an additional 1,381,970 shares during the last quarter. Finally, Kensico Capital Management Corp raised its holdings in shares of AppLovin by 3.1% in the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company’s stock valued at $2,240,767,000 after acquiring an additional 95,000 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

APP opened at $386.37 on Monday. The company has a market cap of $130.31 billion, a P/E ratio of 39.63, a P/E/G ratio of 0.67 and a beta of 2.50. The business’s 50-day moving average price is $440.12 and its 200-day moving average price is $562.44. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the business posted $1.73 EPS. AppLovin’s quarterly revenue was up 66.0% compared to the same quarter last year. On average, equities analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the completion of the sale, the chief executive officer owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. This represents a 1.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the sale, the director directly owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 365,244 shares of company stock valued at $169,584,607. 13.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

APP has been the subject of several recent analyst reports. Scotiabank boosted their price objective on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Morgan Stanley set a $720.00 target price on shares of AppLovin in a research report on Thursday, February 12th. The Goldman Sachs Group cut their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Citigroup decreased their price target on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Weiss Ratings downgraded shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.