Aigen Investment Management LP Invests $397,000 in AppLovin Co. (NASDAQ:APP)

Aigen Investment Management LP purchased a new position in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,225 shares of the company’s stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in AppLovin in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. purchased a new stake in AppLovin in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the third quarter valued at approximately $27,000. Riverview Trust Co grew its holdings 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 purchasing an additional 82 shares during the period. Finally, Hemington Wealth Management grew its holdings in 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 purchasing an additional 40 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Up 4.2 %

NASDAQ APP opened at $270.48 on Friday. The company’s fifty day simple moving average is $365.13 and its 200-day simple moving average is $259.26. AppLovin Co. has a 52 week low of $59.30 and a 52 week high of $525.15. 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 stock has a market cap of $90.77 billion, a P/E ratio of 59.58, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping 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%. Equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 406,447 shares of company stock worth $140,537,281. Insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APP. The Goldman Sachs Group boosted their target price on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Oppenheimer reaffirmed an “outperform” rating and set a $560.00 price target (up from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $452.29.

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.