Alpha DNA Investment Management LLC Purchases New Stake in AppLovin Co. (NASDAQ:APP)

Alpha DNA Investment Management LLC bought a new stake in AppLovin Co. (NASDAQ:APP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,012 shares of the company’s stock, valued at approximately $785,000.

Several other hedge funds have also made changes to their positions in APP. Great Valley Advisor Group Inc. raised its holdings in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after buying an additional 60 shares during the period. HM Payson & Co. lifted its holdings in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after purchasing an additional 104 shares during the last quarter. Ashton Thomas Securities LLC raised its position in AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after purchasing an additional 121 shares during the period. Finally, GAMMA Investing LLC lifted its stake in AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock worth $217,000 after purchasing an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 154,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares in the company, valued at $381,192,483.70. This represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 854,065 shares of company stock worth $233,072,408 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on APP shares. Oppenheimer boosted their price objective on AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their price target on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Bank of America increased their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.96.

AppLovin Price Performance

APP stock opened at $333.31 on Friday. The stock has a market cap of $111.86 billion, a price-to-earnings ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $342.51. 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 business has a 50 day moving average price of $181.30 and a 200 day moving average price of $117.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. Equities research analysts anticipate that AppLovin Co. will post 4.05 earnings per share for the current fiscal 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.