AppLovin Co. (NASDAQ:APP) Stock Holdings Raised by JAT Capital Mgmt LP

JAT Capital Mgmt LP grew its stake in AppLovin Co. (NASDAQ:APP) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,081 shares of the company’s stock after buying an additional 19,081 shares during the quarter. AppLovin makes up 5.9% of JAT Capital Mgmt LP’s portfolio, making the stock its 4th biggest holding. JAT Capital Mgmt LP’s holdings in AppLovin were worth $36,943,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Oxinas Partners Wealth Management LLC bought a new stake in shares of AppLovin during the 4th quarter worth approximately $1,081,000. Virtu Financial LLC purchased a new position in shares of AppLovin during the 3rd quarter valued at approximately $3,211,000. Franchise Capital Ltd purchased a new stake in AppLovin during the 4th quarter valued at about $2,811,000. Barclays PLC grew its stake in shares of AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company’s stock valued at $41,643,000 after buying an additional 153,248 shares during the period. Finally, Tcfg Wealth Management LLC acquired a new position in shares of AppLovin in the 4th quarter worth approximately $369,000. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on APP shares. The Goldman Sachs Group reduced their price objective on shares of AppLovin from $500.00 to $335.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Benchmark upped their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. FBN Securities assumed coverage on AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective on the stock. Piper Sandler decreased their price target on AppLovin from $575.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $415.15.

AppLovin Stock Up 1.4 %

AppLovin stock opened at $288.88 on Wednesday. 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 $98.21 billion, a price-to-earnings ratio of 63.63, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm’s fifty day moving average price is $283.75 and its two-hundred day moving average price is $303.01. 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) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating 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%. On average, equities research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 621,209 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value 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 represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company’s stock.

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.