Arrowpoint Investment Partners Singapore Pte. Ltd. Makes New Investment in AppLovin Co. (NASDAQ:APP)

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,574 shares of the company’s stock, valued at approximately $834,000.

Other hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. bought a new stake in AppLovin during the 4th quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. Riverview Trust Co grew its stake in shares of 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 acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC bought a new position in AppLovin during the fourth quarter worth $28,000. Finally, Hemington Wealth Management raised its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

AppLovin stock opened at $363.05 on Wednesday. The business’s fifty day moving average is $288.92 and its two-hundred day moving average is $321.26. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $122.85 billion, a P/E ratio of 79.97, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. Equities research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on APP shares. Citigroup raised their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Benchmark restated a “buy” rating and set a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Monday, April 21st. Bank of America raised their price objective on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Oppenheimer restated an “outperform” rating and set a $500.00 price objective (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $433.85.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. The trade was a 1.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $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. Insiders have sold 1,119,470 shares of company stock valued at $409,752,180 over the last three months. 14.69% of the stock is owned by insiders.

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.