AppLovin Co. (NASDAQ:APP) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 65.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507,814 shares of the company’s stock after selling 958,200 shares during the quarter. Two Sigma Advisers LP’s holdings in AppLovin were worth $164,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin during the fourth quarter worth about $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin during the 4th quarter worth approximately $25,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new position in AppLovin during the fourth quarter worth approximately $28,000. Finally, Hemington Wealth Management lifted its stake 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 buying an additional 40 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group raised their target price on shares of AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $270.00 to $355.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. HSBC set a $436.00 target price on shares of AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company boosted their price target on AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley upped their price objective on AppLovin from $350.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $433.85.

Insider Buying and Selling

In other AppLovin news, Director Herald Y. Chen sold 400,000 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the sale, the director now owns 221,209 shares of the company’s stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,119,470 shares of company stock worth $409,752,180 in the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $362.34 on Monday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The firm’s fifty day simple moving average is $285.14 and its 200-day simple moving average is $319.52. The stock has a market cap of $123.18 billion, a PE ratio of 79.81, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. Analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

About AppLovin

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.