Alyeska Investment Group L.P. Makes New $13.01 Million Investment in AppLovin Corporation $APP

Key Points

• Alyeska Investment Group L.P. has made a new investment in AppLovin Corporation, purchasing 49,085 shares valued at approximately $13 million during the first quarter.
• Insider transactions revealed significant sales, including 30,000 shares sold by CTO Vasily Shikin and 200,000 shares sold by Director Herald Y. Chen, indicating increased insider selling activity.
• Wall Street ratings for AppLovin are generally positive, with 18 analysts giving it a Buy rating and a consensus target price of about $478.81.

Alyeska Investment Group L.P. purchased a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 49,085 shares of the company's stock, valued at approximately $13,006,000.

Several other institutional investors have also made changes to their positions in APP. Atala Financial Inc acquired a new stake in shares of AppLovin during the 1st quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new stake in shares of AppLovin during the 1st quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of AppLovin during the 1st quarter valued at about $29,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of AppLovin during the 1st quarter valued at about $29,000. Finally, SouthState Corp acquired a new stake in shares of AppLovin during the 1st quarter valued at about $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the completion of the transaction, the chief technology officer directly owned 3,360,104 shares of the company's stock, valued at approximately $1,470,280,707.28. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $432.49, for a total transaction of $86,498,000.00. Following the completion of the transaction, the director directly owned 181,929 shares of the company's stock, valued at approximately $78,682,473.21. This represents a 52.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,122,938 shares of company stock valued at $497,688,184. Insiders own 13.66% of the company's stock.

Wall Street Analyst Weigh In

APP has been the topic of several recent research reports. BTIG Research lifted their target price on shares of AppLovin from $480.00 to $483.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Piper Sandler lifted their target price on shares of AppLovin from $470.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Jefferies Financial Group lifted their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Citigroup reissued a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Finally, Morgan Stanley lifted their price target on shares of AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average target price of $478.81.

AppLovin Trading Up 2.6%

Shares of APP stock opened at $499.97 on Friday. AppLovin Corporation has a 12-month low of $82.51 and a 12-month high of $525.15. The company has a market capitalization of $169.11 billion, a P/E ratio of 71.02, a P/E/G ratio of 2.72 and a beta of 2.44. The firm has a 50-day moving average price of $398.93 and a 200 day moving average price of $348.84. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The company's revenue was up 77.1% on a year-over-year basis. Research analysts forecast that AppLovin Corporation will post 6.87 earnings per share for the current fiscal 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.

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