University of Texas Texas AM Investment Management Co. bought a new position in AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,277 shares of the company's stock, valued at approximately $1,385,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC boosted its holdings in shares of AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after purchasing an additional 31 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after purchasing an additional 33 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after purchasing an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC boosted its holdings in shares of AppLovin by 0.7% in the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock valued at $1,696,000 after purchasing an additional 38 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.
AppLovin Price Performance
NASDAQ:APP traded up $20.34 on Tuesday, reaching $374.63. The stock had a trading volume of 3,287,742 shares, compared to its average volume of 6,045,895. The company has a market capitalization of $126.77 billion, a P/E ratio of 82.45, a price-to-earnings-growth 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. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a fifty day moving average price of $293.78 and a 200-day moving average price of $326.23.
AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share. Research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a report on Monday, April 21st. HSBC set a $436.00 target price on shares of AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. The Goldman Sachs Group lifted their target price on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Piper Sandler lifted their target price on shares of AppLovin from $425.00 to $455.00 and gave the company an "overweight" 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $433.85.
Check Out Our Latest Report on AppLovin
Insider Buying and Selling at AppLovin
In related news, Director Herald Y. Chen sold 400,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the sale, the director now directly owns 221,209 shares of the company's stock, valued at $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 6,599 shares of the business's stock in a transaction that occurred on 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 sale, the insider now directly owns 344,256 shares of the company's stock, valued at approximately $127,150,953.60. This trade represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,233,254 shares of company stock worth $446,927,149 over the last ninety days. Corporate insiders own 14.69% of the company's stock.
About AppLovin
(
Free Report)
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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