1,232 Shares in AppLovin Co. (NASDAQ:APP) Bought by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC bought a new position in AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,232 shares of the company's stock, valued at approximately $399,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after buying an additional 153,248 shares in the last quarter. Chicago Capital LLC purchased a new stake in shares of AppLovin during the 4th quarter valued at approximately $323,000. Brookstone Capital Management purchased a new stake in AppLovin in the fourth quarter valued at approximately $290,000. Assenagon Asset Management S.A. purchased a new stake in AppLovin in the fourth quarter valued at approximately $1,312,000. Finally, Park Avenue Securities LLC raised its position in AppLovin by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 14,348 shares of the company's stock valued at $4,646,000 after purchasing an additional 622 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Craig Scott Billings sold 12,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $353.12, for a total value of $4,237,440.00. Following the transaction, the director now owns 2,987 shares of the company's stock, valued at approximately $1,054,769.44. This trade represents a 80.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 400,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the transaction, the director now directly owns 221,209 shares in the company, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,119,470 shares of company stock valued at $409,752,180 over the last quarter. Company insiders own 14.69% of the company's stock.

AppLovin Stock Performance

NASDAQ:APP opened at $362.34 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $123.18 billion, a P/E ratio of 79.81, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The firm's 50 day moving average is $285.14 and its two-hundred day moving average is $317.47.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. AppLovin's revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. Analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

APP has been the subject of a number of analyst reports. Piper Sandler boosted their target price on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Citigroup upped their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Morgan Stanley upped their target price on shares of AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. FBN Securities started coverage on shares of AppLovin in a report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target for the company. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $433.85.

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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