Two Sigma Advisers LP Reduces Stock Holdings in AppLovin Co. (NASDAQ:APP)

Two Sigma Advisers LP reduced its position in shares of AppLovin Co. (NASDAQ:APP) by 65.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 507,814 shares of the company’s stock after selling 958,200 shares during the period. Two Sigma Advisers LP owned 0.15% of AppLovin worth $164,445,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

APP has been the topic of a number of research analyst reports. UBS Group lifted their target price on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. The Goldman Sachs Group raised their price objective on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Citigroup boosted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Piper Sandler increased their target price on shares of AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $433.85.

AppLovin Stock Performance

Shares of APP stock opened at $362.34 on Monday. The firm has a 50 day moving average of $285.14 and a two-hundred day moving average of $319.52. The stock 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 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 52 week low of $60.67 and a 52 week high of $525.15.

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

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the sale, the director now directly owns 221,209 shares of the company’s stock, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their position. 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 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 transaction 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. The trade was a 16.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,119,470 shares of company stock valued at $409,752,180 in the last quarter. Corporate insiders own 14.69% of the company’s stock.

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.