19,370 Shares in AppLovin Corporation $APP Acquired by Deepwater Asset Management LLC

Deepwater Asset Management LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 19,370 shares of the company’s stock, valued at approximately $13,918,000. AppLovin comprises about 5.5% of Deepwater Asset Management LLC’s portfolio, making the stock its 5th largest holding.

Several other hedge funds have also made changes to their positions in APP. Revolve Wealth Partners LLC acquired a new position in AppLovin in the fourth quarter valued at $294,000. Bison Wealth LLC acquired a new stake in AppLovin in the 4th quarter worth about $239,000. Integrated Wealth Concepts LLC grew its holdings in AppLovin by 58.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,692 shares of the company’s stock valued at $448,000 after buying an additional 621 shares during the period. AlphaQuest LLC increased its stake in shares of AppLovin by 1,143.9% during the 2nd quarter. AlphaQuest LLC now owns 510 shares of the company’s stock valued at $179,000 after acquiring an additional 469 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of AppLovin by 96.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 353 shares of the company’s stock worth $124,000 after acquiring an additional 173 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the transaction, the director owned 2,829 shares in the company, valued at $1,961,402.28. The trade was a 5.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the transaction, the insider directly owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $438.89 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The company has a market capitalization of $148.03 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 0.89 and a beta of 2.51. The business has a 50-day moving average of $527.66 and a 200-day moving average of $572.35.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $2.89 by $0.35. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.AppLovin’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. On average, equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Evercore reaffirmed a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. Arete Research set a $340.00 price objective on AppLovin and gave the stock a “neutral” rating in a report on Monday. Benchmark reiterated a “buy” rating on shares of AppLovin in a report on Monday, February 2nd. Wells Fargo & Company lowered their price target on AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Finally, The Goldman Sachs Group cut their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Twenty-one research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $658.14.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.