Lecap Asset Management Ltd. Purchases New Position in AppLovin Co. (NASDAQ:APP)

Lecap Asset Management Ltd. purchased a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,014 shares of the company's stock, valued at approximately $1,037,000.

Other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP lifted its position in shares of AppLovin by 143.1% in the 3rd quarter. Quantbot Technologies LP now owns 116,917 shares of the company's stock valued at $4,672,000 after acquiring an additional 68,822 shares in the last quarter. Ameriprise Financial Inc. lifted its position in AppLovin by 4,805.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company's stock worth $56,050,000 after buying an additional 1,374,066 shares in the last quarter. Black Swift Group LLC purchased a new stake in AppLovin in the 3rd quarter worth approximately $999,000. Vanguard Group Inc. lifted its position in AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company's stock worth $723,245,000 after buying an additional 1,411,453 shares in the last quarter. Finally, Scout Investments Inc. lifted its position in AppLovin by 83.2% in the 3rd quarter. Scout Investments Inc. now owns 923,361 shares of the company's stock worth $37,692,000 after buying an additional 419,221 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 2,890 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the transaction, the insider now directly owns 546,560 shares of the company's stock, valued at approximately $31,569,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Matthew Stumpf sold 2,775 shares of AppLovin stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the transaction, the chief financial officer now directly owns 362,264 shares of the company's stock, valued at approximately $22,931,311.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares of the company's stock, valued at $31,569,305.60. The disclosure for this sale can be found here. In the last three months, insiders sold 61,215 shares of company stock valued at $4,416,815. Company insiders own 12.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on APP. The Goldman Sachs Group increased their target price on shares of AppLovin from $59.00 to $73.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. BTIG Research raised their price target on shares of AppLovin from $65.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, April 9th. UBS Group raised their price target on shares of AppLovin from $46.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, February 15th. Oppenheimer raised their price target on shares of AppLovin from $70.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, April 8th. Finally, Wedbush raised their price target on shares of AppLovin from $67.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.36.

AppLovin Stock Performance

NASDAQ APP traded down $2.67 during midday trading on Friday, hitting $75.57. The company had a trading volume of 2,563,815 shares, compared to its average volume of 4,067,792. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The stock has a market cap of $25.84 billion, a price-to-earnings ratio of 75.57, a P/E/G ratio of 1.52 and a beta of 1.90. The firm has a fifty day simple moving average of $62.89 and a two-hundred day simple moving average of $47.99. AppLovin Co. has a fifty-two week low of $15.41 and a fifty-two week high of $79.55.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business's quarterly revenue was up 35.7% on a year-over-year basis. During the same period last year, the business posted ($0.21) EPS. Equities analysts forecast that AppLovin Co. will post 2.47 earnings per share for the current fiscal year.

About AppLovin

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.