Woodline Partners LP Makes New $274,000 Investment in AppLovin Co. (NASDAQ:APP)

Woodline Partners LP bought a new position in AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 846 shares of the company's stock, valued at approximately $274,000.

A number of other large investors have also added to or reduced their stakes in the company. Barclays PLC increased its stake in AppLovin by 92.5% during the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares in the last quarter. Tcfg Wealth Management LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $369,000. Caprock Group LLC increased its position in shares of AppLovin by 42.2% in the 4th quarter. Caprock Group LLC now owns 42,146 shares of the company's stock valued at $13,648,000 after acquiring an additional 12,500 shares during the period. Capital Advisory Group Advisory Services LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $213,000. Finally, Jennison Associates LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $414,462,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Down 1.5%

NASDAQ:APP traded down $6.03 on Thursday, hitting $384.23. The stock had a trading volume of 5,132,294 shares, compared to its average volume of 6,061,020. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The stock has a market cap of $130.02 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 3.02 and a beta of 2.39. The company has a fifty day moving average price of $296.79 and a two-hundred day moving average price of $327.05. 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 released 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 firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The firm's quarterly revenue was up 40.3% on a year-over-year basis. Equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on APP shares. Bank of America increased their price objective on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Wednesday. Wells Fargo & Company increased their price target on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, FBN Securities started coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $433.85.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 171,420 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $373.77, for a total transaction of $64,071,653.40. Following the sale, the director now owns 221,209 shares of the company's stock, valued at approximately $82,681,287.93. This represents a 43.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the sale, the director now owns 221,209 shares in the company, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,315,754 shares of company stock valued at $476,095,970 over the last 90 days. 14.69% of the stock is owned by 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.