Hussman Strategic Advisors Inc. Invests $2.51 Million in AppLovin Co. (NASDAQ:APP)

Hussman Strategic Advisors Inc. bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 63,000 shares of the company's stock, valued at approximately $2,511,000.

Several other large investors also recently added to or reduced their stakes in APP. JPMorgan Chase & Co. grew its position in AppLovin by 99.0% during the first quarter. JPMorgan Chase & Co. now owns 981 shares of the company's stock valued at $54,000 after buying an additional 488 shares during the period. Raymond James & Associates boosted its position in shares of AppLovin by 109.0% in the first quarter. Raymond James & Associates now owns 57,743 shares of the company's stock worth $3,180,000 after purchasing an additional 30,112 shares during the period. Bank of New York Mellon Corp boosted its position in shares of AppLovin by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 39,124 shares of the company's stock worth $2,155,000 after purchasing an additional 6,942 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of AppLovin by 43.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,425 shares of the company's stock worth $519,000 after purchasing an additional 2,858 shares during the period. Finally, Citigroup Inc. boosted its position in shares of AppLovin by 802.0% in the first quarter. Citigroup Inc. now owns 22,749 shares of the company's stock worth $1,253,000 after purchasing an additional 20,227 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

AppLovin stock traded down $2.06 during mid-day trading on Friday, reaching $66.80. 2,614,725 shares of the company's stock traded hands, compared to its average volume of 3,575,357. The company has a market cap of $22.85 billion, a price-to-earnings ratio of 66.80, a PEG ratio of 1.35 and a beta of 1.90. The stock has a 50 day moving average of $65.26 and a two-hundred day moving average of $49.05. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin Co. has a 12-month low of $15.41 and a 12-month high of $79.55.

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

Analyst Ratings Changes

APP has been the subject of a number of recent analyst reports. Oppenheimer upped their price target on shares of AppLovin from $70.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, April 8th. BTIG Research upped their price target on shares of AppLovin from $65.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, April 9th. Wedbush upped their price target on shares of AppLovin from $67.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, April 11th. UBS Group boosted their target price on shares of AppLovin from $46.00 to $55.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. Finally, Daiwa Capital Markets began coverage on shares of AppLovin in a report on Monday, April 15th. They issued a "neutral" rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.31.

Insider Activity

In other news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now owns 546,560 shares of the company's stock, valued at $31,569,305.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Victoria Valenzuela sold 2,890 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the chief financial officer now owns 362,264 shares of the company's stock, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is currently owned by company insiders.

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.