AppLovin Corporation (NASDAQ:APP) Shares Acquired by Colonial River Investments LLC

Colonial River Investments LLC grew its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 38.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,407 shares of the company's stock after purchasing an additional 1,778 shares during the period. AppLovin makes up 0.9% of Colonial River Investments LLC's holdings, making the stock its 26th largest position. Colonial River Investments LLC's holdings in AppLovin were worth $1,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new stake in AppLovin during the fourth quarter worth about $294,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of AppLovin during the 4th quarter worth approximately $407,000. Amalgamated Bank grew its position in AppLovin by 1.3% during the fourth quarter. Amalgamated Bank now owns 17,619 shares of the company's stock valued at $5,706,000 after buying an additional 218 shares during the period. NewEdge Wealth LLC grew its position in AppLovin by 8.4% during the fourth quarter. NewEdge Wealth LLC now owns 18,528 shares of the company's stock valued at $6,000,000 after buying an additional 1,442 shares during the period. Finally, New York Life Investment Management LLC acquired a new position in shares of AppLovin in the fourth quarter worth about $201,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. HSBC set a $436.00 target price on shares of AppLovin and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group boosted their target price on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Loop Capital reiterated a "buy" rating and set a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. boosted their price target on AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and an average target price of $438.85.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 6,585 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $370.23, for a total value of $2,437,964.55. Following the completion of the transaction, the insider now owns 357,903 shares of the company's stock, valued at approximately $132,506,427.69. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 400,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Company insiders own 13.66% of the company's stock.

AppLovin Trading Down 3.9%

Shares of AppLovin stock opened at $333.78 on Friday. The firm has a market capitalization of $112.95 billion, a price-to-earnings ratio of 60.25, a PEG ratio of 2.02 and a beta of 2.53. AppLovin Corporation has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a 50 day moving average of $343.55 and a 200 day moving average of $333.66.

AppLovin (NASDAQ:APP - Get Free Report) last released 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 business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company's revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. As a group, research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.

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