Morgens Waterfall Vintiadis & Co. Inc. Makes New $2.59 Million Investment in AppLovin Co. (NASDAQ:APP)

Morgens Waterfall Vintiadis & Co. Inc. acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,000 shares of the company’s stock, valued at approximately $2,591,000. AppLovin comprises 2.0% of Morgens Waterfall Vintiadis & Co. Inc.’s investment portfolio, making the stock its 20th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Oxinas Partners Wealth Management LLC purchased a new stake in AppLovin during the 4th quarter valued at about $1,081,000. Barclays PLC raised its position in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock worth $41,643,000 after acquiring an additional 153,248 shares during the period. Tcfg Wealth Management LLC purchased a new stake in AppLovin during the 4th quarter worth approximately $369,000. Caprock Group LLC boosted its stake in AppLovin by 42.2% during the 4th quarter. Caprock Group LLC now owns 42,146 shares of the company’s stock worth $13,648,000 after purchasing an additional 12,500 shares during the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new position in shares of AppLovin during the 4th quarter worth approximately $382,000. 41.85% of the stock is owned by institutional investors.

AppLovin Trading Up 6.4%

AppLovin stock opened at $370.10 on Wednesday. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The stock has a market capitalization of $125.82 billion, a P/E ratio of 81.52, a PEG ratio of 3.02 and a beta of 2.39. The stock has a 50-day simple moving average of $278.36 and a 200 day simple moving average of $314.35. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 earnings per share. Analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on APP. UBS Group upped their price objective on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Jefferies Financial Group boosted their price target on shares of AppLovin from $460.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Piper Sandler increased their price objective on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Benchmark reaffirmed a “buy” rating and issued a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Finally, Morgan Stanley raised their price target on AppLovin from $350.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $433.85.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 in the last quarter. 14.69% of the stock is currently owned by company insiders.

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.