University of Texas Texas AM Investment Management Co. Invests $1.39 Million in AppLovin Co. (NASDAQ:APP)

University of Texas Texas AM Investment Management Co. acquired a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,277 shares of the company's stock, valued at approximately $1,385,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of APP. Barclays PLC boosted its stake in shares of AppLovin by 92.5% during the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after acquiring an additional 153,248 shares during the last quarter. Chicago Capital LLC bought a new position in AppLovin in the 4th quarter worth $323,000. Assenagon Asset Management S.A. bought a new stake in AppLovin during the fourth quarter valued at about $1,312,000. Merit Financial Group LLC purchased a new stake in shares of AppLovin during the fourth quarter worth about $306,000. Finally, UMB Bank n.a. boosted its position in shares of AppLovin by 16.9% during the fourth quarter. UMB Bank n.a. now owns 1,056 shares of the company's stock worth $342,000 after acquiring an additional 153 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Herald Y. Chen sold 400,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the transaction, the director now directly owns 221,209 shares of the company's stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,277,654 shares of company stock worth $465,170,665. Corporate insiders own 14.69% of the company's stock.

AppLovin Price Performance

NASDAQ:APP opened at $351.47 on Friday. The stock has a market capitalization of $118.93 billion, a PE ratio of 77.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week 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's 50-day moving average price is $291.13 and its 200-day moving average price is $322.85.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS 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 analysts' expectations of $1.38 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The business's revenue was up 40.3% compared to the same quarter last year. As a group, equities analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the subject of several research analyst reports. Bank of America raised their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Piper Sandler increased their target price on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Oppenheimer reissued an "outperform" rating and set a $500.00 target price (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and an average price target of $433.85.

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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