AppLovin Corporation $APP is Augustine Asset Management Inc.’s Largest Position

Augustine Asset Management Inc. lowered its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 263,330 shares of the company’s stock after selling 4,360 shares during the period. AppLovin comprises 35.4% of Augustine Asset Management Inc.’s portfolio, making the stock its largest holding. Augustine Asset Management Inc.’s holdings in AppLovin were worth $177,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $27,000. Chilton Capital Management LLC acquired a new position in shares of AppLovin during the 3rd quarter worth approximately $29,000. Activest Wealth Management lifted its stake in AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after buying an additional 38 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in AppLovin in the 2nd quarter valued at approximately $33,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in AppLovin during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

APP stock opened at $387.84 on Thursday. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The stock’s fifty day simple moving average is $445.59 and its 200-day simple moving average is $565.72. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $130.81 billion, a price-to-earnings ratio of 39.78, a price-to-earnings-growth ratio of 0.69 and a beta of 2.50.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The business’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 earnings per share. Equities research analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APP. Wedbush raised their price target on AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Oppenheimer reduced their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Jefferies Financial Group dropped their price objective on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $650.00 target price (down from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $668.20.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 5,231 shares of AppLovin stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total value of $2,497,645.57. Following the completion of the sale, the chief technology officer owned 30,658 shares in the company, valued at $14,638,275.26. The trade was a 14.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 40,704 shares of the company’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 transaction, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at approximately $1,117,625,877.90. This represents a 1.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 365,244 shares of company stock valued at $169,584,607. Insiders own 13.66% of the company’s stock.

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.