FengHe Fund Management Pte. Ltd. Has $63.35 Million Stock Holdings in AppLovin Corporation $APP

Key Points

• FengHe Fund Management boosted its AppLovin stake by 1,607.7% in Q4, buying 88,505 shares to hold 94,010 shares valued at about $63.35 million, making APP roughly 3.6% of its portfolio and its 12th-largest position.
• Company insiders have been net sellers recently — Director Eduardo Vivas sold 163,910 shares for roughly $74.33 million, and insiders sold 365,244 shares worth about $169.6 million over the last 90 days, though insiders still own 13.66% of the stock.
• AppLovin posted strong quarterly results (EPS $3.24 vs. $2.89 expected; revenue $1.66B, +66% YoY), trades with a market cap of $155.25 billion, and carries a consensus analyst rating of "Moderate Buy" with an average price target of $673.25.

FengHe Fund Management Pte. Ltd. boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 1,607.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,010 shares of the company's stock after buying an additional 88,505 shares during the period. AppLovin makes up about 3.6% of FengHe Fund Management Pte. Ltd.'s portfolio, making the stock its 12th largest position. FengHe Fund Management Pte. Ltd.'s holdings in AppLovin were worth $63,346,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of APP. Vanguard Group Inc. raised its holdings in AppLovin by 39.4% during the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company's stock worth $17,930,776,000 after buying an additional 7,051,663 shares during the last quarter. State Street Corp raised its holdings in AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company's stock worth $8,516,471,000 after buying an additional 6,237,051 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in AppLovin during the third quarter worth $1,456,108,000. Jennison Associates LLC raised its holdings in AppLovin by 55.2% during the third quarter. Jennison Associates LLC now owns 3,886,150 shares of the company's stock worth $2,792,355,000 after buying an additional 1,381,970 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in AppLovin during the third quarter worth $743,899,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 163,910 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total transaction of $74,331,545.90. Following the completion of the sale, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Vasily Shikin sold 5,231 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares of the company's stock, valued at $14,638,275.26. This trade represents a 14.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 365,244 shares of company stock worth $169,584,607. Insiders own 13.66% of the company's stock.

AppLovin Stock Performance

Shares of APP stock opened at $460.29 on Tuesday. The firm has a 50-day moving average of $434.85 and a 200-day moving average of $538.41. The company has a market cap of $155.25 billion, a P/E ratio of 47.21, a P/E/G ratio of 0.78 and a beta of 2.50. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. AppLovin Corporation has a one year low of $246.00 and a one year high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company posted $1.73 earnings per share. The firm's quarterly revenue was up 66.0% compared to the same quarter last year. Equities research analysts forecast that AppLovin Corporation will post 15.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Oppenheimer lowered their target price 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. Zacks Research downgraded shares of AppLovin from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 12th. Argus assumed coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a "buy" rating and a $520.00 target price for the company. Morgan Stanley set a $720.00 target price on shares of AppLovin in a report on Thursday, February 12th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $700.00 target price on shares of AppLovin in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average price target of $673.25.

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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Corporation (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.