Sapient Capital LLC Sells 364,134 Shares of AppLovin Co. (NASDAQ:APP)

Sapient Capital LLC cut its holdings in shares of AppLovin Co. (NASDAQ:APP) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,188,446 shares of the company’s stock after selling 364,134 shares during the period. AppLovin makes up approximately 7.3% of Sapient Capital LLC’s holdings, making the stock its 2nd biggest position. Sapient Capital LLC’s holdings in AppLovin were worth $384,854,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in APP. Soltis Investment Advisors LLC purchased a new stake in shares of AppLovin during the fourth quarter valued at $308,000. Opal Wealth Advisors LLC acquired a new stake in AppLovin during the 4th quarter worth about $237,000. Angeles Wealth Management LLC purchased a new stake in AppLovin during the fourth quarter valued at about $204,000. Stephens Inc. AR boosted its holdings in shares of AppLovin by 9.1% in the fourth quarter. Stephens Inc. AR now owns 7,224 shares of the company’s stock worth $2,339,000 after buying an additional 604 shares during the period. Finally, Quotient Wealth Partners LLC purchased a new position in shares of AppLovin in the fourth quarter worth approximately $222,000. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APP has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Piper Sandler initiated coverage on AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price for the company. BTIG Research upped their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Finally, Macquarie upped their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $366.29.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the transaction, the director now owns 6,684 shares in the company, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 828,991 shares of company stock valued at $267,640,144 over the last three months. 14.69% of the stock is currently owned by insiders.

AppLovin Stock Up 2.3 %

AppLovin stock opened at $384.40 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1-year low of $45.12 and a 1-year high of $417.64. The firm’s fifty day simple moving average is $347.00 and its 200-day simple moving average is $221.43. The company has a market capitalization of $129.00 billion, a P/E ratio of 116.49, a P/E/G ratio of 3.10 and a beta of 2.30.

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.