AM Squared Ltd Acquires 3,000 Shares of AppLovin Co. (NASDAQ:APP)

AM Squared Ltd raised its holdings in shares of AppLovin Co. (NASDAQ:APP) by 46.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,500 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. AppLovin accounts for approximately 0.8% of AM Squared Ltd’s portfolio, making the stock its 11th largest position. AM Squared Ltd’s holdings in AppLovin were worth $379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after acquiring an additional 1,411,453 shares in the last quarter. BlackRock Inc. grew its stake in shares of AppLovin by 2.4% in the 2nd quarter. BlackRock Inc. now owns 8,335,764 shares of the company’s stock worth $214,479,000 after acquiring an additional 195,030 shares in the last quarter. Spruce House Investment Management LLC boosted its holdings in shares of AppLovin by 33.7% in the 4th quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company’s stock worth $52,650,000 after buying an additional 1,259,199 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of AppLovin in the 4th quarter worth about $165,057,000. Finally, First Trust Advisors LP boosted its holdings in shares of AppLovin by 3.7% in the 1st quarter. First Trust Advisors LP now owns 4,040,013 shares of the company’s stock worth $63,630,000 after buying an additional 144,035 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AppLovin news, CFO Matthew Stumpf sold 2,775 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the transaction, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the transaction, the insider now owns 546,560 shares in the company, valued at $31,569,305.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,215 shares of company stock worth $4,416,815. Insiders own 12.43% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock traded down $1.00 on Wednesday, reaching $71.32. The stock had a trading volume of 923,785 shares, compared to its average volume of 4,119,767. AppLovin Co. has a 1 year low of $15.41 and a 1 year high of $79.55. The company has a market cap of $24.39 billion, a P/E ratio of 72.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.90. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. The business’s 50 day moving average is $63.94 and its two-hundred day moving average is $48.44.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. During the same period in the prior year, the firm posted ($0.21) earnings per share. The company’s revenue for the quarter was up 35.7% on a year-over-year basis. As a group, research analysts anticipate that AppLovin Co. will post 2.47 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APP. Daiwa Capital Markets began coverage on shares of AppLovin in a report on Monday. They issued a “neutral” rating and a $80.00 price target on the stock. TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. UBS Group boosted their price target on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. The Goldman Sachs Group boosted their price target on shares of AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, Morgan Stanley boosted their price target on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.31.

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.