Laurion Capital Management LP Takes Position in AppLovin Co. (NASDAQ:APP)

Laurion Capital Management LP purchased 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 institutional investor purchased 7,568 shares of the company's stock, valued at approximately $2,451,000.

Other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co grew its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC acquired a new stake in AppLovin during the fourth quarter valued at $28,000. Finally, Hemington Wealth Management increased its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after buying an additional 40 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on APP shares. Morgan Stanley increased their target price on shares of AppLovin from $350.00 to $420.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. FBN Securities began coverage on AppLovin in a report on Friday, March 28th. They set an "outperform" rating and a $385.00 target price for the company. HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Loop Capital reissued a "buy" rating and issued a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. Finally, Citigroup boosted their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One 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 given a strong buy rating to the company. According to data from MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus price target of $433.85.

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. The trade was a 16.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the 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 sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,900 shares of company stock worth $110,639,281 in the last ninety days. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Down 2.6%

AppLovin stock traded down $9.93 during trading on Thursday, reaching $366.61. The stock had a trading volume of 6,313,379 shares, compared to its average volume of 6,018,504. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The business has a 50 day moving average price of $280.48 and a 200 day moving average price of $314.77. 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 market cap of $124.63 billion, a PE ratio of 80.75, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share 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 firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm's revenue was up 40.3% compared to the same quarter last year. On average, analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

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.