Sculptor Capital LP Makes New Investment in AppLovin Corporation $APP

Sculptor Capital LP purchased a new position in shares of AppLovin Corporation (NASDAQ:APP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,800 shares of the company’s stock, valued at approximately $6,836,000.

A number of other institutional investors have also recently bought and sold shares of APP. Revolve Wealth Partners LLC acquired a new position in AppLovin during the fourth quarter worth approximately $294,000. Integrated Wealth Concepts LLC acquired a new position in AppLovin during the fourth quarter worth approximately $347,000. Kapitalo Investimentos Ltda acquired a new position in AppLovin during the fourth quarter worth approximately $46,000. Bison Wealth LLC acquired a new position in AppLovin during the fourth quarter worth approximately $239,000. Finally, Rehmann Capital Advisory Group bought a new stake in shares of AppLovin during the fourth quarter worth approximately $227,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APP. Scotiabank restated an “outperform” rating on shares of AppLovin in a report on Thursday. Wells Fargo & Company boosted their price objective on AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. BTIG Research boosted their price objective on AppLovin from $480.00 to $483.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. UBS Group boosted their price objective on AppLovin from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, Zacks Research upgraded AppLovin to a “strong-buy” rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $478.81.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 17,564 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.48, for a total transaction of $7,683,898.72. Following the transaction, the chief technology officer owned 53,389 shares of the company’s stock, valued at $23,356,619.72. This represents a 24.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 26,200 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the completion of the transaction, the chief executive officer directly owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,236,152 shares of company stock valued at $545,240,378. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Down 1.1%

Shares of APP opened at $478.59 on Friday. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15. The company has a market cap of $161.88 billion, a P/E ratio of 67.98, a P/E/G ratio of 2.70 and a beta of 2.43. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a 50 day simple moving average of $387.40 and a two-hundred day simple moving average of $348.32.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. Research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

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.