Moore Capital Management LP Reduces Stock Position in AppLovin Corporation $APP

Moore Capital Management LP lessened its position in shares of AppLovin Corporation (NASDAQ:APP) by 57.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,444 shares of the company’s stock after selling 30,237 shares during the quarter. Moore Capital Management LP’s holdings in AppLovin were worth $15,123,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. IHT Wealth Management LLC boosted its stake in shares of AppLovin by 12.3% in the fourth quarter. IHT Wealth Management LLC now owns 1,114 shares of the company’s stock worth $751,000 after buying an additional 122 shares during the last quarter. Evolve Private Wealth LLC purchased a new stake in shares of AppLovin in the fourth quarter worth about $881,000. Capital Impact Advisors LLC boosted its stake in shares of AppLovin by 56.0% in the fourth quarter. Capital Impact Advisors LLC now owns 61,829 shares of the company’s stock worth $41,662,000 after buying an additional 22,200 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of AppLovin in the fourth quarter worth about $2,986,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of AppLovin by 1.3% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 79,405 shares of the company’s stock worth $53,690,000 after buying an additional 1,029 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $479.49 on Thursday. The stock has a market capitalization of $161.08 billion, a price-to-earnings ratio of 41.19, a PEG ratio of 0.84 and a beta of 2.45. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The stock has a 50-day moving average of $489.48 and a 200 day moving average of $519.07.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on APP shares. Argus started coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price on the stock. Weiss Ratings downgraded AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. UBS Group lowered their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Benchmark restated a “buy” rating on shares of AppLovin in a research note on Wednesday, June 10th. Finally, JPMorgan Chase & Co. upped their target price on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $669.62.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $484.42, for a total value of $30,423,513.68. Following the sale, the chief technology officer directly owned 3,189,739 shares in the company, valued at approximately $1,545,173,366.38. The trade was a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 226,014 shares of company stock valued at $113,073,400. 13.66% of the stock is owned by corporate 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.