Two Sigma Investments LP Cuts Stock Holdings in AppLovin Co. (NASDAQ:APP)

Two Sigma Investments LP decreased its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 60.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 576,524 shares of the company's stock after selling 890,321 shares during the quarter. Two Sigma Investments LP owned approximately 0.17% of AppLovin worth $186,696,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in APP. Barclays PLC boosted its holdings in AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after acquiring an additional 153,248 shares during the last quarter. Chicago Capital LLC bought a new position in AppLovin in the 4th quarter worth approximately $323,000. Brookstone Capital Management acquired a new stake in AppLovin in the fourth quarter worth approximately $290,000. Assenagon Asset Management S.A. acquired a new stake in shares of AppLovin during the 4th quarter valued at $1,312,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in AppLovin during the fourth quarter valued at $451,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 6,585 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $370.23, for a total value of $2,437,964.55. Following the sale, the insider now owns 357,903 shares in the company, valued at $132,506,427.69. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,132,654 shares of company stock valued at $414,627,485 in the last three months. Corporate insiders own 14.69% of the company's stock.

AppLovin Price Performance

Shares of AppLovin stock traded down $4.70 during trading on Wednesday, hitting $358.35. The stock had a trading volume of 7,554,897 shares, compared to its average volume of 6,043,238. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $121.26 billion, a P/E ratio of 78.93, a PEG ratio of 3.02 and a beta of 2.39. The business has a fifty day moving average of $288.92 and a two-hundred day moving average of $321.26. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping 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%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm posted $0.67 EPS. The business's revenue was up 40.3% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Bank of America increased their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a report on Monday, April 21st. Finally, Benchmark restated a "buy" rating and issued a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $433.85.

AppLovin Profile

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.