Moore Capital Management LP Has $37.85 Million Stock Position in AppLovin Corporation $APP

Key Points

• Moore Capital Management cut its AppLovin stake by 56.6%, selling 68,745 shares and retaining 52,681 shares valued at $37.85 million per its latest SEC filing.
• AppLovin reported a quarterly beat (EPS $3.24 vs. $2.89 est.; revenue $1.66B vs. $1.61B) with revenue up 66% year‑over‑year, and Wall Street's consensus rating is a Moderate Buy with a $654.50 target amid varied analyst price‑target changes.
• Insiders have been active sellers—188,033 shares (~$90.7M) sold in the last 90 days—while institutional investors own about 41.85% of the stock and insiders hold roughly 13.66%.

Moore Capital Management LP lessened its stake in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 56.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,681 shares of the company's stock after selling 68,745 shares during the quarter. Moore Capital Management LP's holdings in AppLovin were worth $37,853,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of APP. Chilton Capital Management LLC acquired a new stake in shares of AppLovin during the 3rd quarter valued at $29,000. Activest Wealth Management grew its position in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company's stock worth $31,000 after acquiring an additional 38 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in AppLovin in the 2nd quarter worth about $33,000. Heartwood Wealth Advisors LLC acquired a new position in AppLovin in the 3rd quarter worth about $33,000. Finally, CBIZ Investment Advisory Services LLC raised its position in AppLovin by 58.6% in the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock valued at $33,000 after purchasing an additional 17 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the topic of a number of recent research reports. Zacks Research lowered AppLovin from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Piper Sandler reaffirmed an "overweight" rating and issued a $650.00 price objective (down from $800.00) on shares of AppLovin in a research note on Thursday, February 12th. Oppenheimer dropped their price objective 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. Weiss Ratings downgraded shares of AppLovin from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Finally, Scotiabank boosted their target price on shares of AppLovin from $750.00 to $775.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $654.50.

AppLovin Trading Down 1.2%

NASDAQ APP opened at $453.30 on Tuesday. The firm has a market capitalization of $152.89 billion, a PE ratio of 46.49, a price-to-earnings-growth ratio of 0.81 and a beta of 2.51. The business's 50-day moving average price is $490.72 and its two-hundred day moving average price is $574.61. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last issued 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. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm's revenue was up 66.0% compared to the same quarter last year. During the same period last year, the company earned $1.73 earnings per share. On average, analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the firm's stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the transaction, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 5,231 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer owned 30,658 shares in the company, 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. In the last 90 days, insiders sold 188,033 shares of company stock valued at $90,662,374. 13.66% of the stock is currently owned by company insiders.

AppLovin 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.

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.