D1 Capital Partners L.P. Purchases Shares of 481,000 AppLovin Co. (NASDAQ:APP)

D1 Capital Partners L.P. bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, Holdings Channel reports. The institutional investor bought 481,000 shares of the company’s stock, valued at approximately $155,762,000. AppLovin comprises approximately 2.6% of D1 Capital Partners L.P.’s portfolio, making the stock its 12th largest position.

Several other large investors have also recently bought and sold shares of APP. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the 4th quarter worth about $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin during the fourth quarter worth approximately $25,000. Riverview Trust Co raised its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC bought a new stake in AppLovin in the fourth quarter valued at approximately $28,000. Finally, Hemington Wealth Management lifted its position in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

NASDAQ APP opened at $252.28 on Thursday. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm has a market capitalization of $85.76 billion, a price-to-earnings ratio of 55.57, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm’s 50 day simple moving average is $300.39 and its 200 day simple moving average is $298.16.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the 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 completion of the transaction, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 over the last 90 days. Insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on APP shares. The Goldman Sachs Group dropped their price target on AppLovin from $500.00 to $335.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. FBN Securities began coverage on shares of AppLovin in a research report on Friday, March 28th. They issued an “outperform” rating and a $385.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $560.00 target price on shares of AppLovin in a report on Thursday, March 27th. Jefferies Financial Group increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Arete Research set a $200.00 price objective on AppLovin in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $414.05.

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.