AppLovin Co. (NASDAQ:APP) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its position in AppLovin Co. (NASDAQ:APP - Free Report) by 65.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 507,814 shares of the company's stock after selling 958,200 shares during the period. Two Sigma Advisers LP owned 0.15% of AppLovin worth $164,445,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Stonebrook Private Inc. purchased a new stake in shares of AppLovin in the fourth quarter worth about $214,000. Toronto Dominion Bank lifted its position in shares of AppLovin by 22.0% in the fourth quarter. Toronto Dominion Bank now owns 30,705 shares of the company's stock worth $9,943,000 after buying an additional 5,531 shares in the last quarter. Steadfast Capital Management LP purchased a new stake in shares of AppLovin in the fourth quarter worth about $136,799,000. Snowden Capital Advisors LLC raised its position in AppLovin by 18.2% during the fourth quarter. Snowden Capital Advisors LLC now owns 3,274 shares of the company's stock valued at $1,060,000 after purchasing an additional 503 shares during the period. Finally, Shell Asset Management Co. raised its position in AppLovin by 55.4% during the fourth quarter. Shell Asset Management Co. now owns 6,912 shares of the company's stock valued at $2,238,000 after purchasing an additional 2,463 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Down 1.3%

NASDAQ:APP traded down $4.70 during midday trading on Wednesday, hitting $358.35. The stock had a trading volume of 7,554,897 shares, compared to its average volume of 6,043,238. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company 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 stock has a 50-day moving average of $288.92 and a 200 day moving average of $321.26. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. AppLovin's revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APP. Oppenheimer restated 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. Wells Fargo & Company upped their price objective on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. HSBC set a $436.00 price objective on AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group upped their price objective on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. One equities 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $433.85.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. The trade was a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. The trade was a 24.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,132,654 shares of company stock valued at $414,627,485 over the last quarter. 14.69% of the stock is owned by corporate insiders.

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.