PharVision Advisers LLC Invests $290,000 in AppLovin Co. (NASDAQ:APP)

PharVision Advisers LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 894 shares of the company's stock, valued at approximately $290,000.

Other hedge funds also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new position in shares of AppLovin in the fourth quarter worth approximately $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AppLovin by 3.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,020,479 shares of the company's stock valued at $330,462,000 after purchasing an additional 38,441 shares during the period. USS Investment Management Ltd purchased a new position in shares of AppLovin during the 4th quarter valued at $12,603,000. Woodline Partners LP bought a new position in AppLovin in the 4th quarter worth $274,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in AppLovin in the 4th quarter worth $159,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Jefferies Financial Group boosted their price target on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Monday, April 21st. Oppenheimer reaffirmed an "outperform" rating and set a $500.00 price objective (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Finally, UBS Group boosted their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and an average price target of $433.85.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction 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 sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victoria Valenzuela sold 6,599 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $369.35, for a total transaction of $2,437,340.65. Following the completion of the transaction, the insider now owns 344,256 shares in the company, valued at approximately $127,150,953.60. The trade was a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,132,654 shares of company stock worth $414,627,485. 14.69% of the stock is currently owned by insiders.

AppLovin Price Performance

NASDAQ:APP opened at $358.35 on Thursday. The firm has a market capitalization of $121.26 billion, a price-to-earnings ratio of 78.93, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business has a 50 day simple moving average of $290.23 and a 200-day simple moving average of $321.52. 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 issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company earned $0.67 earnings per share. AppLovin's revenue was up 40.3% on a year-over-year basis. Equities analysts forecast 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.

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