Sands Capital Management LLC Has $986.04 Million Stake in AppLovin Corporation $APP

Sands Capital Management LLC increased its position in shares of AppLovin Corporation (NASDAQ:APP) by 43.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,463,351 shares of the company’s stock after buying an additional 446,392 shares during the period. AppLovin accounts for approximately 3.0% of Sands Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Sands Capital Management LLC owned approximately 0.43% of AppLovin worth $986,035,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new position in AppLovin during the fourth quarter worth $27,000. Washington Trust Advisors Inc. boosted its position in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Laurel Wealth Advisors LLC bought a new position in AppLovin during the fourth quarter worth $32,000. Graney & King LLC bought a new position in AppLovin during the third quarter worth $36,000. Finally, Aventura Private Wealth LLC bought a new position in AppLovin during the fourth quarter worth $38,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer reduced their price objective on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of AppLovin in a research report on Thursday, May 28th. Arete Research set a $340.00 price objective on shares of AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, UBS Group reduced their price objective on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 22,544 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the sale, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at approximately $1,152,157,026.32. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. The trade was a 7.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 226,014 shares of company stock valued at $113,073,400 in the last 90 days. 13.66% of the stock is currently owned by corporate insiders.

AppLovin Stock Performance

Shares of AppLovin stock opened at $496.77 on Monday. The firm has a 50-day moving average of $482.88 and a 200-day moving average of $520.57. The stock has a market cap of $166.88 billion, a PE ratio of 42.68, a PEG ratio of 0.81 and a beta of 2.45. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin’s quarterly revenue was up 58.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.67 earnings per share. As a group, sell-side analysts forecast that AppLovin Corporation will post 15.86 EPS for the current year.

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.