AppLovin Corporation $APP Position Boosted by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG grew its holdings in AppLovin Corporation (NASDAQ:APP) by 106.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,820 shares of the company’s stock after purchasing an additional 1,456 shares during the period. J. Safra Sarasin Holding AG’s holdings in AppLovin were worth $1,900,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in APP. CBIZ Investment Advisory Services LLC grew its position in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after buying an additional 18 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of AppLovin by 2.8% during the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock valued at $504,000 after buying an additional 19 shares during the period. Claro Advisors LLC boosted its stake in shares of AppLovin by 3.2% during the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after buying an additional 20 shares during the period. Finally, Optas LLC grew its holdings in shares of AppLovin by 2.5% during the 3rd quarter. Optas LLC now owns 877 shares of the company’s stock valued at $630,000 after acquiring an additional 21 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 163,910 shares of the stock in a transaction that occurred 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 owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 62,804 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total value of $30,549,749.72. Following the completion of the sale, the chief technology officer directly owned 3,255,273 shares in the company, valued at $1,583,462,445.39. This trade represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 365,244 shares of company stock valued at $169,584,607. Insiders own 13.66% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of a number of research reports. Citigroup dropped their price target on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, February 12th. The Goldman Sachs Group dropped their target price on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. BTIG Research reduced their price target on AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a research note on Monday, March 2nd. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.20.

AppLovin Stock Performance

Shares of APP opened at $398.00 on Wednesday. The company has a market capitalization of $134.24 billion, a PE ratio of 40.82, a price-to-earnings-growth ratio of 0.64 and a beta of 2.51. 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 one year low of $200.50 and a one year high of $745.61. The company’s fifty day moving average price is $448.49 and its 200 day moving average price is $566.97.

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, beating analysts’ consensus estimates 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 net margin of 57.42% and a return on equity of 245.64%. The business’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 earnings per share. As a group, analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

AppLovin 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.