Bessemer Group Inc. Cuts Stake in AppLovin Corporation (NASDAQ:APP)

Bessemer Group Inc. lowered its position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 58.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,642 shares of the company's stock after selling 24,575 shares during the quarter. Bessemer Group Inc.'s holdings in AppLovin were worth $4,675,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin during the 4th quarter worth $25,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in AppLovin in the 4th quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new stake in AppLovin in the 1st quarter valued at about $29,000. Finally, Inlight Wealth Management LLC acquired a new stake in AppLovin in the 1st quarter valued at about $31,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In related news, Director Craig Scott Billings sold 12,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $353.12, for a total value of $4,237,440.00. Following the transaction, the director now owns 2,987 shares in the company, valued at approximately $1,054,769.44. This trade represents a 80.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Barbara Messing sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total transaction of $573,690.00. Following the completion of the transaction, the director now owns 9,510 shares in the company, valued at $3,637,194.60. The trade was a 13.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Company insiders own 13.66% of the company's stock.

AppLovin Trading Down 3.9%

Shares of APP stock opened at $333.78 on Friday. The firm has a market cap of $112.95 billion, a P/E ratio of 60.25, a PEG ratio of 2.02 and a beta of 2.53. 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 current ratio of 1.68 and a quick ratio of 1.68. The firm's 50-day simple moving average is $343.55 and its 200-day simple moving average is $333.66.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion for 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 company's revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. As a group, equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Oppenheimer reissued an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. FBN Securities assumed coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective on the stock. UBS Group increased their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Loop Capital reissued a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and a consensus price target of $438.85.

AppLovin Company Profile

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.

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