Regal Partners Ltd Takes $810,000 Position in AppLovin Co. (NASDAQ:APP)

Regal Partners Ltd purchased a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,500 shares of the company's stock, valued at approximately $810,000.

A number of other institutional investors and hedge funds have also modified their holdings of APP. Voleon Capital Management LP acquired a new stake in shares of AppLovin during the 4th quarter worth approximately $1,248,000. Utah Retirement Systems increased its position in shares of AppLovin by 212.8% during the 4th quarter. Utah Retirement Systems now owns 44,100 shares of the company's stock worth $14,281,000 after purchasing an additional 30,000 shares in the last quarter. PDT Partners LLC bought a new position in AppLovin during the 4th quarter valued at about $4,535,000. California State Teachers Retirement System increased its holdings in shares of AppLovin by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 329,832 shares of the company's stock worth $106,809,000 after buying an additional 6,108 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of AppLovin by 3.5% in the 4th quarter. Northern Trust Corp now owns 1,612,978 shares of the company's stock worth $522,331,000 after acquiring an additional 55,082 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of AppLovin from $475.00 to $270.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley raised AppLovin from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $470.00 to $350.00 in a research note on Thursday, April 10th. Finally, Benchmark increased their price target on AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $415.15.

AppLovin Trading Up 10.1 %

Shares of AppLovin stock traded up $28.09 on Friday, hitting $307.58. The stock had a trading volume of 6,984,084 shares, compared to its average volume of 5,944,323. The stock's 50-day simple moving average is $278.21 and its two-hundred day simple moving average is $303.70. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. 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 stock has a market cap of $104.56 billion, a price-to-earnings ratio of 67.75, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

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.