Sapient Capital LLC Has $448.27 Million Position in AppLovin Corporation $APP

Sapient Capital LLC cut its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,280,491 shares of the company's stock after selling 3,544 shares during the period. AppLovin accounts for about 8.0% of Sapient Capital LLC's investment portfolio, making the stock its 2nd biggest position. Sapient Capital LLC owned approximately 0.38% of AppLovin worth $448,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Aaron Wealth Advisors LLC raised its stake in shares of AppLovin by 9.0% in the second quarter. Aaron Wealth Advisors LLC now owns 1,363 shares of the company's stock worth $477,000 after acquiring an additional 113 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of AppLovin in the second quarter worth about $481,000. Triumph Capital Management bought a new position in shares of AppLovin in the second quarter worth about $259,000. Lifestyle Asset Management Inc. bought a new position in shares of AppLovin in the second quarter worth about $1,818,000. Finally, Bay Rivers Group raised its stake in shares of AppLovin by 13.8% in the second quarter. Bay Rivers Group now owns 2,450 shares of the company's stock worth $858,000 after acquiring an additional 297 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Up 1.8%

Shares of NASDAQ APP opened at $603.80 on Wednesday. The stock has a market cap of $204.24 billion, a P/E ratio of 85.77, a P/E/G ratio of 3.28 and a beta of 2.44. The firm has a 50 day moving average price of $434.65 and a 200 day moving average price of $357.46. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74. AppLovin Corporation has a 52-week low of $117.26 and a 52-week high of $605.38.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business's revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. Analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on APP shares. Scotiabank reaffirmed an "outperform" rating on shares of AppLovin in a research note on Thursday, August 28th. Citigroup reissued a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. BTIG Research boosted their price target on shares of AppLovin from $547.00 to $664.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley boosted their price target on shares of AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Benchmark boosted their price target on shares of AppLovin from $525.00 to $640.00 and gave the stock a "buy" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $501.95.

Insider Activity

In related news, Director Eduardo Vivas sold 125,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the transaction, the director owned 7,283,292 shares in the company, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 90,000 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total transaction of $37,893,600.00. Following the completion of the transaction, the chief executive officer owned 2,620,054 shares of the company's stock, valued at $1,103,147,536.16. This trade represents a 3.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by company insiders.

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.

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