2,500 Shares in AppLovin Co. (NASDAQ:APP) Bought by Regal Partners Ltd

Regal Partners Ltd purchased a new position in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,500 shares of the company’s stock, valued at approximately $810,000.

Other institutional investors have also recently made changes to their positions in the company. Oxinas Partners Wealth Management LLC bought a new position in shares of AppLovin in the fourth quarter worth approximately $1,081,000. Virtu Financial LLC bought a new stake in AppLovin during the third quarter valued at about $3,211,000. Franchise Capital Ltd bought a new position in shares of AppLovin in the fourth quarter worth about $2,811,000. Barclays PLC grew its position in shares of 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 purchasing an additional 153,248 shares in the last quarter. Finally, Tcfg Wealth Management LLC bought a new stake in AppLovin during the 4th quarter valued at approximately $369,000. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on APP shares. The Goldman Sachs Group cut their target price on shares of AppLovin from $500.00 to $335.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Oppenheimer restated an “outperform” rating and set a $560.00 price target on shares of AppLovin in a report on Thursday, March 27th. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Piper Sandler reduced their price target on shares of AppLovin from $575.00 to $425.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Citigroup lifted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $415.15.

AppLovin Price Performance

AppLovin stock opened at $288.88 on Wednesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $98.21 billion, a price-to-earnings ratio of 63.63, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The firm has a 50-day moving average of $283.75 and a two-hundred day moving average of $303.01. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 over the last three months. 14.69% of the stock is owned by corporate 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.