Kapitalo Investimentos Ltda Acquires New Shares in AppLovin Co. (NASDAQ:APP)

Kapitalo Investimentos Ltda bought a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 142 shares of the company’s stock, valued at approximately $46,000.

A number of other hedge funds have also added to or reduced their stakes in APP. GHP Investment Advisors Inc. bought a new stake in AppLovin during the fourth quarter valued at $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co grew its holdings in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new position in shares of AppLovin in the fourth quarter worth approximately $28,000. Finally, Hemington Wealth Management increased 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 worth $29,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred 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 directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Arete Research set a $200.00 price target on shares of AppLovin in a research note on Wednesday, March 5th. Piper Sandler reduced their target price on AppLovin from $575.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley raised AppLovin from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $470.00 to $350.00 in a research note on Thursday, April 10th. UBS Group reduced their price objective on AppLovin from $630.00 to $450.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, Benchmark boosted their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $415.15.

AppLovin Stock Up 3.8 %

NASDAQ APP opened at $279.49 on Friday. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The stock has a market capitalization of $95.01 billion, a PE ratio of 61.56, a PEG ratio of 3.02 and a beta of 2.39. 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 business’s 50-day moving average is $278.21 and its 200 day moving average is $303.70.

AppLovin (NASDAQ:APP) last issued 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 return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

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.