Brevan Howard Capital Management LP Invests $12.82 Million in AppLovin Co. (NASDAQ:APP)

Brevan Howard Capital Management LP bought a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 39,601 shares of the company's stock, valued at approximately $12,824,000.

Other hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in AppLovin during the 4th quarter worth $25,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at about $25,000. Riverview Trust Co raised its position in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in AppLovin during the 4th quarter valued at approximately $28,000. Finally, Hemington Wealth Management raised its holdings in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 in the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Down 0.4 %

Shares of APP stock traded down $1.16 during trading hours on Wednesday, reaching $303.46. The company had a trading volume of 11,561,906 shares, compared to its average volume of 5,990,039. The company has a market cap of $103.16 billion, a price-to-earnings ratio of 66.84, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The business has a fifty day simple moving average of $275.48 and a 200-day simple moving average of $308.12.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. During the same quarter in the previous year, the firm posted $0.67 EPS. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. On average, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on APP. Piper Sandler reduced their price objective on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Benchmark upped their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. The Goldman Sachs Group lowered their price objective on AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Morgan Stanley upgraded AppLovin from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $470.00 to $350.00 in a research report on Thursday, April 10th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $560.00 target price on shares of AppLovin in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average target price of $415.15.

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.