AppLovin Co. (NASDAQ:APP) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,665 shares of the company’s stock after acquiring an additional 126 shares during the period. GAMMA Investing LLC’s holdings in AppLovin were worth $217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Lone Pine Capital LLC lifted its stake in AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after purchasing an additional 2,525,240 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of AppLovin during the second quarter worth about $290,655,000. Whale Rock Capital Management LLC purchased a new position in shares of AppLovin in the first quarter valued at approximately $195,129,000. Finally, 1832 Asset Management L.P. grew its holdings in shares of AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after purchasing an additional 1,357,400 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % 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 5,500 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $86.04, for a total transaction of $473,220.00. Following the completion of the sale, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 610,094 shares of company stock worth $51,022,478. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of AppLovin stock opened at $147.00 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $147.60. The firm’s 50 day moving average is $104.70 and its two-hundred day moving average is $87.53. The firm has a market capitalization of $49.13 billion, a P/E ratio of 62.55, a P/E/G ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm posted $0.22 EPS. The company’s revenue was up 44.0% on a year-over-year basis. Research analysts forecast that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Bank of America increased their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Citigroup boosted their target price on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Finally, Macquarie reissued an “outperform” rating and set a $150.00 price objective (up from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $106.44.

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.