TFJ Management LLC Cuts Stock Holdings in AppLovin Corporation (NASDAQ:APP)

Key Points

• TFJ Management LLC reduced its holdings in AppLovin Corporation by 9.0%, now owning 77,843 shares, making the stock its largest position.
• In its most recent quarterly earnings, AppLovin reported $2.26 EPS, exceeding analysts' expectations of $2.05, although revenue fell short of forecasts at $1.26 billion.
• AppLovin has received mixed ratings from analysts, with JPMorgan raising its price target to $425 while Benchmark maintains a $525 price target with a "buy" rating.

TFJ Management LLC lowered its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,843 shares of the company's stock after selling 7,679 shares during the period. AppLovin makes up 19.5% of TFJ Management LLC's holdings, making the stock its largest position. TFJ Management LLC's holdings in AppLovin were worth $20,626,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin during the 4th quarter valued at $25,000. Atala Financial Inc acquired a new position in shares of AppLovin in the 1st quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in shares of AppLovin in the 1st quarter worth $27,000. ORG Wealth Partners LLC acquired a new position in shares of AppLovin in the 1st quarter worth $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of AppLovin in the 1st quarter worth $29,000. Institutional investors own 41.85% of the company's stock.

AppLovin Trading Up 1.2%

Shares of NASDAQ:APP opened at $438.68 on Friday. AppLovin Corporation has a 52-week low of $82.51 and a 52-week high of $525.15. The company has a market capitalization of $148.38 billion, a P/E ratio of 62.31, a price-to-earnings-growth ratio of 2.42 and a beta of 2.43. The company has a 50-day simple moving average of $370.82 and a 200 day simple moving average of $343.23. 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 (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, topping analysts' consensus estimates of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The business's revenue was up 77.1% on a year-over-year basis. Sell-side analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Benchmark reiterated a "buy" rating and set a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. Finally, Wells Fargo & Company lifted their price target on AppLovin from $405.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average price target of $472.33.

Insider Buying and Selling

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of the business's stock in a transaction 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 sale, the director owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the sale, the director directly owned 3,451 shares in the company, valued at approximately $1,450,455.30. The trade was a 12.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 925,398 shares of company stock valued at $392,582,738 in the last quarter. Corporate insiders own 13.66% of the company's stock.

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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