Wexford Capital LP Invests $224,000 in AppLovin Co. (NASDAQ:APP)

Wexford Capital LP purchased a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 692 shares of the company's stock, valued at approximately $224,000.

Several other hedge funds have also made changes to their positions in the business. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin in the fourth quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the 4th quarter valued at approximately $25,000. Riverview Trust Co increased its position in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at approximately $28,000. Finally, Hemington Wealth Management increased its position in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 44,400 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the transaction, the chief executive officer now owns 2,869,492 shares of the company's stock, valued at approximately $1,179,045,567.88. The trade was a 1.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 400,000 shares of the company's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders have sold 1,119,470 shares of company stock worth $409,752,180 in the last three months. Corporate insiders own 14.69% of the company's stock.

AppLovin Price Performance

AppLovin stock opened at $370.63 on Tuesday. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business has a fifty day moving average of $287.10 and a two-hundred day moving average of $320.97. The company has a market cap of $125.42 billion, a P/E ratio of 81.64, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS 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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the firm earned $0.67 EPS. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. UBS Group raised their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. FBN Securities began coverage on shares of AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 target price on the stock. Benchmark restated a "buy" rating and set a $525.00 target price on shares of AppLovin in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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