Twinbeech Capital LP Takes $14 Million Position in AppLovin Co. (NASDAQ:APP)

Twinbeech Capital LP acquired a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 43,236 shares of the company's stock, valued at approximately $14,001,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. JFS Wealth Advisors LLC boosted its holdings in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock worth $34,000 after buying an additional 29 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of AppLovin by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after buying an additional 31 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after buying an additional 33 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after buying an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC boosted its holdings in shares of AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock worth $1,696,000 after buying an additional 38 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

APP traded up $2.82 during trading hours on Friday, hitting $354.29. The company's stock had a trading volume of 5,314,732 shares, compared to its average volume of 6,055,840. The business's 50-day moving average price is $292.64 and its 200-day moving average price is $325.23. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The stock has a market cap of $119.89 billion, a price-to-earnings ratio of 78.04, a P/E/G ratio of 3.02 and a beta of 2.39. 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 announced 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. 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 analysts' expectations of $1.38 billion. During the same quarter in the previous year, the business posted $0.67 earnings per share. AppLovin's quarterly revenue was up 40.3% on a year-over-year basis. Sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 6,585 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the transaction, the insider now owns 357,903 shares in the company, valued at $132,506,427.69. This trade represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,277,654 shares of company stock worth $465,170,665 over the last quarter. Insiders own 14.69% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on APP. The Goldman Sachs Group raised their price objective on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Oppenheimer reaffirmed an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. HSBC set a $436.00 price target on shares of AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. FBN Securities started coverage on shares of AppLovin in a report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target on the stock. Finally, Loop Capital reaffirmed a "buy" rating and set a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $433.85.

AppLovin 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.