Ardsley Advisory Partners LP Invests $2.80 Million in AppLovin Corporation $APP

Ardsley Advisory Partners LP purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 8,000 shares of the company’s stock, valued at approximately $2,801,000.

Several other institutional investors have also added to or reduced their stakes in APP. Revolve Wealth Partners LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at $294,000. Bison Wealth LLC bought a new stake in shares of AppLovin during the 4th quarter worth $239,000. Zions Bancorporation National Association UT acquired a new stake in AppLovin in the first quarter valued at about $47,000. Benjamin Edwards Inc. grew its position in AppLovin by 11.6% in the first quarter. Benjamin Edwards Inc. now owns 3,480 shares of the company’s stock valued at $922,000 after acquiring an additional 363 shares during the last quarter. Finally, SouthState Corp bought a new position in AppLovin in the first quarter valued at about $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the completion of the transaction, the director owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the sale, the chief technology officer directly owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This trade represents a 0.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 332,727 shares of company stock valued at $195,062,520. 13.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Benchmark increased their price objective on shares of AppLovin from $640.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Scotiabank boosted their target price on shares of AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Wedbush increased their price target on AppLovin from $745.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of AppLovin in a report on Monday. Nineteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $679.85.

AppLovin Price Performance

APP stock opened at $703.28 on Thursday. The company has a market capitalization of $237.68 billion, a P/E ratio of 85.35, a PEG ratio of 3.89 and a beta of 2.51. The company has a fifty day moving average price of $608.54 and a 200-day moving average price of $497.18. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. AppLovin’s revenue for the quarter was up 68.2% on a year-over-year basis. As a group, equities analysts expect that AppLovin Corporation will post 6.87 EPS 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.