GAMMA Investing LLC Buys Shares of 1,131 AppLovin Co. (NASDAQ:APP)

GAMMA Investing LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,131 shares of the company’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sapient Capital LLC bought a new stake in AppLovin during the fourth quarter valued at $165,057,000. Vanguard Group Inc. boosted its position in shares of AppLovin by 8.5% during the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after acquiring an additional 1,411,453 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock valued at $56,050,000 after acquiring an additional 1,374,066 shares during the last quarter. FMR LLC grew its holdings in shares of AppLovin by 224.6% during the third quarter. FMR LLC now owns 755,798 shares of the company’s stock worth $30,202,000 after purchasing an additional 522,949 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of AppLovin by 88.6% in the third quarter. Raymond James & Associates now owns 927,907 shares of the company’s stock worth $37,079,000 after purchasing an additional 435,792 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of APP stock opened at $72.47 on Friday. The company has a market capitalization of $24.78 billion, a P/E ratio of 72.47, a PEG ratio of 1.42 and a beta of 1.85. AppLovin Co. has a fifty-two week low of $16.35 and a fifty-two week high of $79.55. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a 50 day moving average price of $67.94 and a two-hundred day moving average price of $50.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The company had revenue of $953.26 million during the quarter, compared to analyst estimates of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm’s revenue was up 35.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) EPS. Analysts expect that AppLovin Co. will post 2.49 earnings per share for the current year.

Insider Activity

In related news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares in the company, valued at approximately $22,931,311.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the transaction, the insider now directly owns 546,560 shares in the company, valued at approximately $31,569,305.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of AppLovin stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,215 shares of company stock valued at $4,416,815. Insiders own 12.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Oppenheimer upped their target price on shares of AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Daiwa Capital Markets initiated coverage on AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 price target on the stock. Jefferies Financial Group initiated coverage on AppLovin in a research note on Thursday. They set a “buy” rating and a $93.00 price target for the company. Finally, UBS Group increased their price objective on AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.60.

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.