AppLovin Corporation $APP Shares Acquired by Holocene Advisors LP

Holocene Advisors LP increased its position in shares of AppLovin Corporation (NASDAQ:APP) by 105.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,882 shares of the company’s stock after purchasing an additional 59,608 shares during the quarter. Holocene Advisors LP’s holdings in AppLovin were worth $83,266,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock valued at $17,930,776,000 after buying an additional 7,051,663 shares during the period. Norges Bank acquired a new stake in AppLovin during the second quarter worth about $951,541,000. Rakuten Investment Management Inc. acquired a new stake in AppLovin during the third quarter worth about $1,456,108,000. Jennison Associates LLC lifted its holdings in AppLovin by 55.2% in the third 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, Capital Research Global Investors acquired a new position in AppLovin in the third quarter valued at approximately $743,899,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a report on Friday, March 6th. Piper Sandler restated an “overweight” rating and set a $650.00 price objective (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. The Goldman Sachs Group lowered their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Evercore reaffirmed a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Finally, Wedbush raised their target price on AppLovin from $465.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $654.50.

AppLovin Stock Down 1.2%

Shares of AppLovin stock opened at $453.30 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The business’s fifty day moving average price is $490.72 and its two-hundred day moving average price is $574.61. The company has a market capitalization of $152.89 billion, a P/E ratio of 46.49, a PEG ratio of 0.81 and a beta of 2.51.

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

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. The trade was a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victoria Valenzuela sold 7,609 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 188,033 shares of company stock valued at $90,662,374 over the last 90 days. 13.66% of the stock is currently owned by company insiders.

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.