AppLovin Corporation $APP Stake Decreased by Baillie Gifford & Co.

Key Points

• Baillie Gifford trimmed its Q4 position in AppLovin by 1.3%, selling 79,611 shares and leaving it with 6,166,349 shares; AppLovin represents 3.5% of Baillie Gifford's portfolio and Baillie owns about 1.82% of the company (~$4.16 billion).
• Insiders sold a total of 365,244 shares worth roughly $169.6 million in the past three months, including Director Eduardo Vivas (~$74.3M) and CEO Arash Foroughi (~$23.3M), leaving insiders with about 13.66% ownership.
• Earnings beat: AppLovin reported Q4 EPS of $3.24 (vs. $2.89 expected) and revenue of $1.66B (+66% YoY), and analysts maintain a "Moderate Buy" consensus with a $669.05 average target despite some recent price cuts.

Baillie Gifford & Co. lowered its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,166,349 shares of the company's stock after selling 79,611 shares during the quarter. AppLovin accounts for 3.5% of Baillie Gifford & Co.'s investment portfolio, making the stock its 8th biggest position. Baillie Gifford & Co. owned 1.82% of AppLovin worth $4,155,009,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Chilton Capital Management LLC bought a new stake in AppLovin in the third quarter worth $29,000. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin during the fourth quarter worth about $27,000. Activest Wealth Management boosted its holdings in shares of AppLovin by 760.0% during the third quarter. Activest Wealth Management now owns 43 shares of the company's stock worth $31,000 after purchasing an additional 38 shares during the period. Heartwood Wealth Advisors LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at about $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of AppLovin by 58.6% during the 3rd 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. 41.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 163,910 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the completion of the transaction, the director directly owned 6,969,382 shares in the company, valued at $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares of the company's stock, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 365,244 shares of company stock worth $169,584,607 over the last three months. 13.66% of the stock is currently owned by company insiders.

AppLovin Stock Up 0.0%

Shares of APP stock opened at $391.45 on Monday. AppLovin Corporation has a 12 month low of $222.02 and a 12 month high of $745.61. The stock has a market cap of $132.03 billion, a P/E ratio of 40.15, a P/E/G ratio of 0.68 and a beta of 2.50. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The company has a 50 day simple moving average of $426.55 and a two-hundred day simple moving average of $553.83.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results 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 analysts' expectations of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm's revenue was up 66.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. On average, research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of research reports. BTIG Research cut their target price on shares of AppLovin from $771.00 to $640.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Zacks Research downgraded shares of AppLovin from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Citigroup dropped their target price 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 reiterated an "outperform" rating and issued a $700.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Finally, Oppenheimer decreased their price objective on shares of AppLovin from $740.00 to $660.00 and set an "outperform" rating for the company in a report on Thursday, March 5th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $669.05.

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.

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