Massachusetts Financial Services Co. MA Cuts Position in AppLovin Corporation $APP

Key Points

• Massachusetts Financial Services trimmed its stake in AppLovin by 6.1% in Q4 to 1,010,989 shares, leaving a holding worth about $681.2 million.
• Insiders have been selling: CEO Arash Foroughi sold 50,000 shares and director Eduardo Vivas sold 163,910, with insiders offloading 365,244 shares (~$169.6M) in the past 90 days while still owning 13.66% of the company.
• Wall Street shows a Moderate Buy consensus with a $669.05 average price target, and AppLovin recently beat quarterly expectations (EPS $3.24 vs. $2.89; revenue $1.66B, up 66% year‑over‑year).

Massachusetts Financial Services Co. MA lessened its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,010,989 shares of the company's stock after selling 66,117 shares during the period. Massachusetts Financial Services Co. MA owned about 0.30% of AppLovin worth $681,225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company's stock valued at $17,930,776,000 after purchasing an additional 7,051,663 shares in the last quarter. State Street Corp increased its stake in shares of AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company's stock valued at $8,516,471,000 after purchasing an additional 6,237,051 shares in the last quarter. Invesco Ltd. increased its stake in shares of AppLovin by 9.4% in the 3rd quarter. Invesco Ltd. now owns 4,292,752 shares of the company's stock valued at $3,084,514,000 after purchasing an additional 367,083 shares in the last quarter. Jennison Associates LLC increased its stake in shares of AppLovin by 55.2% in the 3rd quarter. Jennison Associates LLC now owns 3,886,150 shares of the company's stock valued at $2,792,355,000 after purchasing an additional 1,381,970 shares in the last quarter. Finally, Kensico Capital Management Corp increased its stake in shares of AppLovin by 3.1% in the 3rd quarter. Kensico Capital Management Corp now owns 3,118,500 shares of the company's stock valued at $2,240,767,000 after purchasing an additional 95,000 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on APP shares. Royal Bank Of Canada restated an "outperform" rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, February 12th. The Goldman Sachs Group cut their price target on AppLovin from $710.00 to $585.00 and set a "neutral" rating for the company in a research note on Thursday, February 12th. Needham & Company LLC reiterated a "buy" rating and set a $700.00 price objective on shares of AppLovin in a research note on Wednesday, March 11th. Arete Research set a $340.00 price objective on AppLovin and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Finally, Oppenheimer cut their price objective on AppLovin from $740.00 to $660.00 and set an "outperform" rating for the company in a research note on Thursday, March 5th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $669.05.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 50,000 shares of the business'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 transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at $1,155,972,140.56. The trade was a 1.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares in the company, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 365,244 shares of company stock worth $169,584,607 in the last ninety days. Insiders own 13.66% of the company's stock.

AppLovin Price Performance

NASDAQ:APP opened at $391.45 on Friday. AppLovin Corporation has a 12 month low of $222.02 and a 12 month high of $745.61. The stock has a 50 day moving average of $426.55 and a two-hundred day moving average of $555.12. 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 firm has a market cap of $132.03 billion, a P/E ratio of 40.15, a price-to-earnings-growth ratio of 0.66 and a beta of 2.50.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business earned $1.73 EPS. AppLovin's quarterly revenue was up 66.0% on a year-over-year basis. On average, analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin Company Profile

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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