Cache Advisors LLC Makes New $2.25 Million Investment in AppLovin Co. (NASDAQ:APP)

Cache Advisors LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,936 shares of the company's stock, valued at approximately $2,246,000. AppLovin makes up 0.8% of Cache Advisors LLC's investment portfolio, making the stock its 25th largest position.

Several other institutional investors and hedge funds have also modified their holdings of APP. Barclays PLC raised its stake in shares of AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares during the period. Chicago Capital LLC acquired a new stake in AppLovin in the 4th quarter valued at approximately $323,000. Assenagon Asset Management S.A. bought a new stake in AppLovin in the 4th quarter valued at approximately $1,312,000. Merit Financial Group LLC bought a new stake in AppLovin in the 4th quarter valued at approximately $306,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company's stock worth $50,000 after acquiring an additional 89 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This represents a 16.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 6,585 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 357,903 shares in the company, valued at $132,506,427.69. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,233,254 shares of company stock worth $446,927,149 in the last quarter. Corporate insiders own 14.69% of the company's stock.

AppLovin Stock Performance

APP stock traded up $1.53 during mid-day trading on Wednesday, hitting $382.44. 3,526,294 shares of the company were exchanged, compared to its average volume of 6,052,785. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The stock has a market capitalization of $129.41 billion, a PE ratio of 83.97, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The business has a 50 day simple moving average of $295.26 and a 200-day simple moving average of $326.61. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

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 the consensus estimate 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 188.55% and a net margin of 33.54%. The firm's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the firm posted $0.67 EPS. On average, equities analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports 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. Piper Sandler boosted their price target on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Morgan Stanley raised their price objective on AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Wednesday. Finally, Bank of America increased their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One investment 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's stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $433.85.

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.