Dynamic Technology Lab Private Ltd Acquires Shares of 57,326 AppLovin Co. (NASDAQ:APP)

Dynamic Technology Lab Private Ltd bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,326 shares of the company's stock, valued at approximately $2,284,000.

Several other institutional investors have also recently modified their holdings of APP. Sapient Capital LLC acquired a new position in shares of AppLovin during the fourth quarter valued at $165,057,000. Vanguard Group Inc. increased its stake in shares of AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company's stock worth $723,245,000 after purchasing an additional 1,411,453 shares during the period. Ameriprise Financial Inc. grew 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 purchasing an additional 1,374,066 shares during the last quarter. Norges Bank bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $43,973,000. Finally, FMR LLC boosted its stake in AppLovin by 224.6% in the 3rd quarter. FMR LLC now owns 755,798 shares of the company's stock valued at $30,202,000 after buying an additional 522,949 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Down 0.9 %

Shares of NASDAQ:APP traded down $0.74 on Friday, reaching $82.49. The company had a trading volume of 3,337,159 shares, compared to its average volume of 4,616,789. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. AppLovin Co. has a twelve month low of $21.03 and a twelve month high of $88.50. The stock has a 50-day moving average price of $72.73 and a 200 day moving average price of $54.42. The stock has a market capitalization of $27.14 billion, a P/E ratio of 49.10, a P/E/G ratio of 1.39 and a beta of 1.85.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company's revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. On average, equities analysts expect that AppLovin Co. will post 2.96 EPS for the current year.

Insider Activity

In related news, CFO Matthew Stumpf sold 2,775 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other AppLovin news, CFO Matthew Stumpf sold 2,775 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the transaction, the chief financial officer now directly owns 362,264 shares in the company, valued at approximately $22,931,311.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the completion of the sale, the insider now directly owns 366,567 shares of the company's stock, valued at $30,557,025.12. The disclosure for this sale can be found here. Insiders sold a total of 17,714,819 shares of company stock valued at $1,475,871,950 in the last quarter. Company insiders own 14.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TheStreet upgraded shares of AppLovin from a "d+" rating to a "c-" rating in a research report on Friday, March 8th. Morgan Stanley boosted their price objective on shares of AppLovin from $55.00 to $70.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 16th. Citigroup boosted their price target on shares of AppLovin from $80.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, May 10th. Jefferies Financial Group boosted their target price on shares of AppLovin from $93.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group increased their price objective on AppLovin from $73.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $71.72.

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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