GF Fund Management CO. LTD. Makes New Investment in AppLovin Co. (NASDAQ:APP)

GF Fund Management CO. LTD. bought a new position in AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 58,400 shares of the company's stock, valued at approximately $18,912,000.

A number of other hedge funds and other institutional investors have also modified their holdings of APP. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of AppLovin during the 4th quarter worth about $1,385,000. Public Employees Retirement System of Ohio increased its position in shares of AppLovin by 3.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 98,696 shares of the company's stock worth $31,961,000 after purchasing an additional 2,990 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of AppLovin during the 4th quarter worth about $78,000. Vise Technologies Inc. increased its position in shares of AppLovin by 34.9% during the 4th quarter. Vise Technologies Inc. now owns 3,260 shares of the company's stock worth $1,056,000 after purchasing an additional 844 shares during the last quarter. Finally, Pinnacle Wealth Management LLC acquired a new stake in shares of AppLovin during the 4th quarter worth about $2,651,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Oppenheimer reissued an "outperform" rating and set a $500.00 price objective (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Benchmark reissued a "buy" rating and set a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, UBS Group raised their target price on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $433.85.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred 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 transaction, the chief technology officer now owns 88,389 shares of the company's stock, valued at $21,359,201.85. The trade was a 16.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 56,300 shares of AppLovin stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $363.64, for a total value of $20,472,932.00. Following the transaction, the chief executive officer now directly owns 2,860,363 shares in the company, valued at approximately $1,040,142,401.32. This trade represents a 1.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,233,254 shares of company stock worth $446,927,149 over the last 90 days. 14.69% of the stock is owned by insiders.

AppLovin Stock Up 7.5%

Shares of APP traded up $26.62 during midday trading on Tuesday, hitting $380.91. The company had a trading volume of 7,654,701 shares, compared to its average volume of 6,062,275. The company's 50-day simple moving average is $293.78 and its 200-day simple moving average is $326.23. 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 firm has a market capitalization of $128.89 billion, a P/E ratio of 83.90, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted 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. The firm 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 was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. As a group, sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current 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.