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

GAMMA Investing LLC grew its stake in AppLovin Co. (NASDAQ:APP) by 9.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,817 shares of the company’s stock after purchasing an additional 152 shares during the period. GAMMA Investing LLC’s holdings in AppLovin were worth $588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after purchasing an additional 53 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of AppLovin by 43.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 6,391 shares of the company’s stock valued at $841,000 after purchasing an additional 1,929 shares during the period. Franklin Resources Inc. raised its position in AppLovin by 37.0% in the third quarter. Franklin Resources Inc. now owns 996,996 shares of the company’s stock worth $130,158,000 after acquiring an additional 269,134 shares in the last quarter. Castellan Group acquired a new stake in AppLovin in the 3rd quarter valued at about $8,799,000. Finally, Optimist Retirement Group LLC bought a new position in shares of AppLovin during the 3rd quarter valued at about $284,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the transaction, the director now owns 6,684 shares in the company, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the transaction, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

AppLovin Trading Up 2.6 %

NASDAQ APP opened at $350.65 on Friday. 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 Co. has a 1-year low of $37.40 and a 1-year high of $417.64. The firm’s fifty day simple moving average is $302.03 and its 200-day simple moving average is $171.60. The company has a market capitalization of $117.68 billion, a PE ratio of 106.26, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. As a group, sell-side analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Macquarie boosted their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Stifel Nicolaus lifted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Citigroup upped their target price on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $310.71.

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.