Science & Technology Partners L.P. Takes $30.61 Million Position in AppLovin Co. (NASDAQ:APP)

Science & Technology Partners L.P. purchased a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 94,521 shares of the company's stock, valued at approximately $30,609,000. AppLovin comprises about 9.3% of Science & Technology Partners L.P.'s portfolio, making the stock its 2nd largest position.

Several other institutional investors also recently modified their holdings of the business. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the fourth quarter valued at $25,000. Riverview Trust Co grew its holdings in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in shares of AppLovin in the 4th quarter worth about $28,000. Finally, Hemington Wealth Management boosted its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $4.59 during midday trading on Monday, reaching $281.42. The company's stock had a trading volume of 4,466,772 shares, compared to its average volume of 5,879,577. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $95.67 billion, a P/E ratio of 61.91, a PEG ratio of 3.02 and a beta of 2.39. The firm has a 50 day moving average price of $291.16 and a 200-day moving average price of $302.14. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares of the company's stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock valued at $106,401,841. Company insiders own 14.69% of the company's stock.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research analyst reports. FBN Securities started coverage on AppLovin in a report on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. Arete Research set a $200.00 target price on shares of AppLovin in a research report on Wednesday, March 5th. Piper Sandler dropped their price objective on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Loop Capital reissued a "buy" rating and set a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $560.00 target price on shares of AppLovin in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $414.05.

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.