Fintel reports that Karam Andrew has filed a 13G/A form with the SEC disclosing ownership of 20.00MM shares of Applovin Corporation Class A (APP). This represents 6.6% of the company.
In their previous filing dated February 14, 2022 they reported 21.27MM shares and 7.18% of the company, a decrease in shares of 5.97% and a decrease in total ownership of 0.58% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 51.93% Upside
As of February 13, 2023, the average one-year price target for Applovin is $23.23. The forecasts range from a low of $7.07 to a high of $61.95. The average price target represents an increase of 51.93% from its latest reported closing price of $15.29.
The projected annual revenue for Applovin is $2,873MM, a decrease of 1.21%. The projected annual EPS is $0.38.
What is the Fund Sentiment?
There are 477 funds or institutions reporting positions in Applovin. This is a decrease of 22 owner(s) or 4.41% in the last quarter. Average portfolio weight of all funds dedicated to APP is 0.40%, a decrease of 28.49%. Total shares owned by institutions increased in the last three months by 0.94% to 151,648K shares. The put/call ratio of APP is 0.55, indicating a bullish outlook.
What are large shareholders doing?
Kohlberg Kravis Roberts & Co. holds 60,735K shares representing 16.43% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,216K shares representing 1.41% ownership of the company. In it's prior filing, the firm reported owning 5,283K shares, representing a decrease of 1.28%. The firm decreased its portfolio allocation in APP by 41.75% over the last quarter.
Tiger Global Management holds 4,973K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 4,025K shares representing 1.09% ownership of the company. In it's prior filing, the firm reported owning 4,135K shares, representing a decrease of 2.73%. The firm decreased its portfolio allocation in APP by 42.40% over the last quarter.
First Trust Advisors holds 3,896K shares representing 1.05% ownership of the company. In it's prior filing, the firm reported owning 2,780K shares, representing an increase of 28.64%. The firm decreased its portfolio allocation in APP by 30.72% over the last quarter.
Applovin Background Information
(This description is provided by the company.)
AppLovin’s global technology platform provides developers a powerful, integrated set of solutions to grow their businesses. AppLovin enables developers to market, monetize, analyze and publish their apps. Its studios create popular, immersive content and its technology brings that content to users around the world. AppLovin is headquartered in Palo Alto, California with several offices globally.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
