Jacobs Levy Equity Management Inc. Makes New Investment in AppLovin Co. (NASDAQ:APP)

Jacobs Levy Equity Management Inc. purchased a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,277 shares of the company's stock, valued at approximately $414,000.

Other hedge funds also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin during the fourth quarter worth $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin during the fourth quarter worth $25,000. Riverview Trust Co boosted its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in AppLovin during the fourth quarter worth $28,000. Finally, Hemington Wealth Management boosted its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Down 1.2%

APP stock opened at $362.34 on Friday. 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 company has a market capitalization of $123.18 billion, a price-to-earnings ratio of 79.81, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The stock has a fifty day moving average of $285.14 and a 200-day moving average of $318.48.

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, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the firm earned $0.67 EPS. The company's quarterly revenue was up 40.3% compared to the same quarter last year. As a group, equities research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group lifted their target price on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Benchmark reissued a "buy" rating and set a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. Loop Capital reissued a "buy" rating and set a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. UBS Group lifted their target price on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Oppenheimer reissued an "outperform" rating and set a $500.00 target price (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $433.85.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 570 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $371.12, for a total value of $211,538.40. Following the transaction, the director now directly owns 6,231 shares in the company, valued at approximately $2,312,448.72. This represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,119,470 shares of company stock worth $409,752,180 over the last ninety days. Company insiders own 14.69% of the company's stock.

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.

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