STF Management LP Sells 2,504 Shares of AppLovin Corporation $APP

Key Points

• STF Management LP cut its AppLovin stake by 58.4% in the fourth quarter, selling 2,504 shares and leaving it with 1,781 shares worth about $1.2 million.
• AppLovin’s stock has drawn mixed but mostly positive analyst views, with recent target raises from Wells Fargo and UBS and a consensus rating of Moderate Buy with an average price target of $664.35.
• The company posted a strong quarterly report, beating earnings and revenue estimates with $3.56 EPS on $1.84 billion in revenue, while shares were trading around $501 after rising 3.3%.

STF Management LP lowered its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 58.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,781 shares of the company's stock after selling 2,504 shares during the quarter. AppLovin makes up about 1.1% of STF Management LP's investment portfolio, making the stock its 18th largest holding. STF Management LP's holdings in AppLovin were worth $1,200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Mediolanum International Funds Ltd raised its holdings in AppLovin by 73.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company's stock worth $54,664,000 after purchasing an additional 32,510 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of AppLovin by 14.8% in the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company's stock worth $84,160,000 after acquiring an additional 15,074 shares in the last quarter. Allworth Financial LP raised its position in shares of AppLovin by 131.7% in the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company's stock worth $4,347,000 after acquiring an additional 3,438 shares in the last quarter. APG Asset Management N.V. bought a new position in shares of AppLovin in the 3rd quarter worth approximately $4,958,000. Finally, Trek Financial LLC raised its position in shares of AppLovin by 851.6% in the 3rd quarter. Trek Financial LLC now owns 9,630 shares of the company's stock worth $6,920,000 after acquiring an additional 8,618 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on AppLovin from $560.00 to $571.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. BTIG Research reissued a "buy" rating and issued a $640.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Zacks Research lowered shares of AppLovin from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Arete Research set a $340.00 price target on shares of AppLovin and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Finally, UBS Group decreased their price target on shares of AppLovin from $740.00 to $716.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $664.35.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 40,704 shares of the firm's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the completion of the sale, the chief executive officer directly owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the director owned 6,969,382 shares of the company's stock, valued at approximately $3,160,545,043.18. This represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Up 3.3%

APP stock opened at $501.00 on Friday. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm has a market cap of $168.31 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 0.81 and a beta of 2.37. The business has a 50 day moving average of $447.26 and a 200 day moving average of $529.13.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company earned $1.67 EPS. The firm's revenue for the quarter was up 58.9% on a year-over-year basis. On average, research analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

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.

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