Laurion Capital Management LP Purchases New Holdings in AppLovin Co. (NASDAQ:APP)

Laurion Capital Management LP purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,568 shares of the company’s stock, valued at approximately $2,451,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin during the fourth quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the fourth quarter worth $25,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% in the fourth 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 purchased a new stake in AppLovin in the fourth quarter worth $28,000. Finally, Hemington Wealth Management increased 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 buying an additional 40 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction dated 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 transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 over the last ninety days. 14.69% of the stock is owned by corporate insiders.

AppLovin Price Performance

AppLovin stock opened at $328.79 on Monday. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The business has a 50-day simple moving average of $275.55 and a 200 day simple moving average of $312.65. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $111.77 billion, a price-to-earnings ratio of 72.42, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping 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 business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s revenue was up 40.3% on a year-over-year basis. On average, research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent research reports. Morgan Stanley raised their target price on AppLovin from $350.00 to $420.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America raised their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company raised their target price on AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. Finally, FBN Securities initiated coverage on AppLovin in a research report on Friday, March 28th. They issued an “outperform” rating and a $385.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $433.85.

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.