Moore Capital Management LP Has $37.83 Million Position in AppLovin Co. (NASDAQ:APP)

Moore Capital Management LP raised its position in AppLovin Co. (NASDAQ:APP) by 36.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,811 shares of the company’s stock after buying an additional 31,153 shares during the quarter. Moore Capital Management LP’s holdings in AppLovin were worth $37,827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of APP. FMR LLC increased its holdings in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after buying an additional 5,957,885 shares during the period. SVB Wealth LLC bought a new position in shares of AppLovin in the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. lifted its position in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the last quarter. Norges Bank acquired a new stake in AppLovin in the fourth quarter valued at about $828,138,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock worth $936,888,000 after acquiring an additional 2,373,885 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APP has been the topic of several research reports. Bank of America boosted their price target on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Morgan Stanley boosted their target price on shares of AppLovin from $350.00 to $420.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and set a $525.00 target price on shares of AppLovin in a research report on Thursday. One 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 MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $433.85.

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Down 3.2%

Shares of AppLovin stock opened at $328.79 on Monday. The company has a market capitalization of $111.77 billion, a P/E ratio of 72.42, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company’s fifty day moving average is $275.55 and its two-hundred day moving average is $312.65.

AppLovin (NASDAQ:APP) last released its quarterly earnings data 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 net margin of 33.54% and a return on equity of 188.55%. The business 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 firm earned $0.67 EPS. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. Analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

About AppLovin

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.