Cache Advisors LLC Invests $2.25 Million in AppLovin Co. (NASDAQ:APP)

Cache Advisors LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,936 shares of the company's stock, valued at approximately $2,246,000. AppLovin makes up 0.8% of Cache Advisors LLC's holdings, making the stock its 25th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC lifted its holdings in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock worth $34,000 after buying an additional 29 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after purchasing an additional 31 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after purchasing an additional 33 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after purchasing an additional 33 shares in the last quarter. Finally, Truvestments Capital LLC raised its holdings in shares of AppLovin by 0.7% in the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock valued at $1,696,000 after purchasing an additional 38 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 33,700 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total value of $12,318,698.00. Following the completion of the sale, the chief executive officer now owns 2,760,363 shares in the company, valued at approximately $1,009,023,091.02. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares of the company's stock, valued at $201,675,501.85. This trade represents a 24.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,233,254 shares of company stock valued at $446,927,149. Insiders own 14.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on APP shares. HSBC set a $436.00 price objective on shares of AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. Loop Capital restated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a report on Monday, April 21st. Benchmark restated a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $433.85.

AppLovin Stock Performance

AppLovin stock traded up $26.62 during midday trading on Tuesday, hitting $380.91. 7,654,701 shares of the company's stock were exchanged, compared to its average volume of 6,062,275. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $128.89 billion, a price-to-earnings ratio of 83.90, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm's 50 day simple moving average is $293.78 and its 200 day simple moving average is $326.23.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $0.67 EPS. AppLovin's revenue for the quarter was up 40.3% on a year-over-year basis. Equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

AppLovin Company 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.