AppLovin Corporation $APP Stock Holdings Lessened by Cloverfields Capital Group LP

Cloverfields Capital Group LP reduced its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 41.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,594 shares of the company's stock after selling 3,299 shares during the quarter. Cloverfields Capital Group LP's holdings in AppLovin were worth $1,828,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APP. Revolve Wealth Partners LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at $294,000. Bison Wealth LLC acquired a new position in shares of AppLovin in the fourth quarter worth $239,000. Integrated Wealth Concepts LLC raised its holdings in shares of AppLovin by 58.0% during the first quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company's stock worth $448,000 after acquiring an additional 621 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of AppLovin by 5.7% during the second quarter. NewEdge Advisors LLC now owns 14,523 shares of the company's stock worth $5,084,000 after acquiring an additional 782 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in AppLovin by 7.2% during the second quarter. Treasurer of the State of North Carolina now owns 139,189 shares of the company's stock valued at $48,727,000 after purchasing an additional 9,380 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Down 3.3%

Shares of NASDAQ:APP opened at $398.86 on Friday. 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 market capitalization of $133.99 billion, a PE ratio of 34.27, a P/E/G ratio of 0.67 and a beta of 2.49. AppLovin Corporation has a 1 year low of $355.00 and a 1 year high of $745.61. The firm has a fifty day moving average price of $501.15 and a 200 day moving average price of $480.70.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $1.67 earnings per share. The business's revenue was up 58.9% compared to the same quarter last year. Analysts expect that AppLovin Corporation will post 15.93 EPS for the current fiscal year.

Insider Transactions at AppLovin

In other news, CFO Matthew Stumpf sold 9,052 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares in the company, valued at approximately $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 22,544 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer directly owned 2,327,684 shares of the company's stock, valued at approximately $1,152,157,026.32. This represents a 0.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on APP. 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. Piper Sandler reaffirmed an "overweight" rating on shares of AppLovin in a research note on Tuesday, July 7th. KeyCorp set a $775.00 price target on AppLovin in a report on Wednesday, June 10th. BTIG Research reissued a "buy" rating and issued a $640.00 price target on shares of AppLovin in a research note on Thursday, May 7th. Finally, Wedbush restated an "outperform" rating and issued a $640.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and an average target price of $668.45.

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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