Voleon Capital Management LP Makes New $1.25 Million Investment in AppLovin Co. (NASDAQ:APP)

Voleon Capital Management LP bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,855 shares of the company's stock, valued at approximately $1,248,000.

Other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC raised its stake in shares of AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock worth $34,000 after acquiring an additional 29 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in AppLovin by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after purchasing an additional 31 shares during the last quarter. Quadrant Capital Group LLC boosted its position in AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after buying an additional 33 shares during the period. Forum Financial Management LP grew its stake in shares of AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after buying an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC lifted its stake in shares of AppLovin by 0.7% in the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock valued at $1,696,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was 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 accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction dated Friday, February 21st. The shares were 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 $1,230,527,667.32. This represents a 1.52 % decrease in their position. 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. 14.69% of the stock is owned by company insiders.

AppLovin Stock Up 10.1 %

NASDAQ:APP traded up $28.09 on Friday, reaching $307.58. 6,984,084 shares of the stock traded hands, compared to its average volume of 5,944,323. The company's fifty day simple moving average is $276.82 and its 200 day simple moving average is $304.83. The company has a market capitalization of $104.56 billion, a price-to-earnings ratio of 67.75, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $560.00 price target on shares of AppLovin in a research note on Thursday, March 27th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Monday, April 21st. Piper Sandler dropped their price target on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on shares of AppLovin from $475.00 to $270.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group dropped their target price on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $415.15.

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.