Seascape Capital Management Cuts Stake in AppLovin Corporation (NASDAQ:APP)

Seascape Capital Management cut its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 41.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,372 shares of the company's stock after selling 10,872 shares during the quarter. AppLovin accounts for about 1.4% of Seascape Capital Management's portfolio, making the stock its 25th biggest position. Seascape Capital Management's holdings in AppLovin were worth $4,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of APP. HighPoint Advisor Group LLC grew its position in AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after acquiring an additional 31 shares during the last quarter. Quadrant Capital Group LLC increased its position in AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after acquiring an additional 33 shares during the last quarter. Forum Financial Management LP lifted its position in AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after purchasing an additional 33 shares in the last quarter. Truvestments Capital LLC increased its stake in shares of AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock worth $1,696,000 after purchasing an additional 38 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of AppLovin by 13.4% during the first quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $97,000 after acquiring an additional 43 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Up 1.3%

APP traded up $4.24 during trading on Friday, hitting $340.24. 3,525,836 shares of the stock traded hands, compared to its average volume of 6,222,403. 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 has a market capitalization of $115.13 billion, a P/E ratio of 61.42, a price-to-earnings-growth ratio of 2.04 and a beta of 2.42. The firm has a 50-day moving average of $352.35 and a 200 day moving average of $333.89. AppLovin Corporation has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The business's revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. HSBC set a $436.00 target price on AppLovin and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company boosted their price objective on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Benchmark reaffirmed a "buy" rating and set a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. Finally, Jefferies Financial Group boosted their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $438.85.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 171,420 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $373.77, for a total value of $64,071,653.40. Following the completion of the transaction, the director owned 221,209 shares of the company's stock, valued at approximately $82,681,287.93. This trade represents a 43.66% 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 Herald Y. Chen sold 400,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director directly owned 221,209 shares of the company's stock, valued at approximately $82,867,103.49. This trade represents a 64.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock worth $455,062,980 over the last three months. 13.66% of the stock is owned by company insiders.

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.