Jacobs Levy Equity Management Inc. Acquires New Position in AppLovin Co. (NASDAQ:APP)

Jacobs Levy Equity Management Inc. acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,277 shares of the company’s stock, valued at approximately $414,000.

A number of other large investors also recently modified their holdings of APP. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin during the 4th quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co increased its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC purchased a new position in AppLovin in the 4th quarter worth approximately $28,000. Finally, Hemington Wealth Management increased its stake in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Down 1.2%

NASDAQ APP opened at $362.34 on Friday. 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 twelve month low of $60.67 and a twelve month high of $525.15. The firm has a market capitalization of $123.18 billion, a PE ratio of 79.81, a P/E/G ratio of 3.02 and a beta of 2.39. The stock’s 50 day moving average is $285.14 and its 200 day moving average is $318.48.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. 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 previous year, the company posted $0.67 earnings per share. The firm’s revenue was up 40.3% on a year-over-year basis. Research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 570 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $371.12, for a total value of $211,538.40. Following the sale, the director now directly owns 6,231 shares of the company’s stock, valued at approximately $2,312,448.72. The trade was a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of the business’s 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 completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,119,470 shares of company stock valued at $409,752,180. 14.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on APP shares. Morgan Stanley lifted 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. JPMorgan Chase & Co. lifted their price target on AppLovin from $270.00 to $355.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. The Goldman Sachs Group lifted their price target on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Piper Sandler lifted their price target on AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $433.85.

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.