AppLovin Corporation (NASDAQ:APP) is Steadview Capital Management LLC's 4th Largest Position

Steadview Capital Management LLC decreased its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 20.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,680 shares of the company's stock after selling 56,870 shares during the period. AppLovin accounts for about 13.1% of Steadview Capital Management LLC's holdings, making the stock its 4th largest holding. Steadview Capital Management LLC owned about 0.07% of AppLovin worth $60,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of APP. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin during the 4th quarter valued at about $25,000. Tucker Asset Management LLC purchased a new stake in shares of AppLovin in the fourth quarter worth $28,000. Atala Financial Inc purchased a new stake in shares of AppLovin in the first quarter worth $26,000. ORG Wealth Partners LLC purchased a new stake in shares of AppLovin in the first quarter worth $29,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of AppLovin in the first quarter worth $27,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. HSBC set a $436.00 target price on AppLovin and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Oppenheimer restated an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. UBS Group boosted their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Finally, Morgan Stanley boosted their price objective on shares of AppLovin from $420.00 to $460.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $438.43.

Insider Buying and Selling

In other news, Director Herald Y. Chen sold 100,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $419.91, for a total value of $41,991,000.00. Following the transaction, the director directly owned 181,929 shares in the company, valued at $76,393,806.39. The trade was a 35.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the completion of the transaction, the director owned 3,451 shares in the company, valued at $1,450,455.30. The trade was a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock worth $455,062,980 in the last ninety days. Corporate insiders own 13.66% of the company's stock.

AppLovin Stock Performance

Shares of AppLovin stock traded down $9.05 on Friday, hitting $337.27. 2,471,994 shares of the company's stock were exchanged, compared to its average volume of 6,217,791. The company has a 50-day simple moving average of $357.68 and a 200-day simple moving average of $334.38. The stock has a market capitalization of $114.13 billion, a PE ratio of 60.92, a PEG ratio of 2.10 and a beta of 2.42. AppLovin Corporation has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.