Rebalance LLC acquired a new stake in AppLovin Co. (NYSE:APP – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,500 shares of the company’s stock, valued at approximately $37,000.
A number of other hedge funds have also added to or reduced their stakes in APP. B. Riley Wealth Advisors Inc. acquired a new stake in AppLovin in the fourth quarter valued at approximately $149,000. Alliancebernstein L.P. boosted its position in AppLovin by 6.1% in the fourth quarter. Alliancebernstein L.P. now owns 96,377 shares of the company’s stock valued at $1,015,000 after buying an additional 5,514 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in AppLovin by 2.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 112,180 shares of the company’s stock valued at $1,181,000 after buying an additional 2,353 shares in the last quarter. CI Private Wealth LLC acquired a new stake in AppLovin in the fourth quarter valued at approximately $161,000. Finally, Chimera Capital Management LLC boosted its position in AppLovin by 322.4% in the fourth quarter. Chimera Capital Management LLC now owns 78,475 shares of the company’s stock valued at $826,000 after buying an additional 59,898 shares in the last quarter. 38.19% of the stock is owned by institutional investors.
AppLovin Stock Performance
Shares of APP opened at $23.97 on Friday. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $8.74 billion, a P/E ratio of -108.95, a price-to-earnings-growth ratio of 3.24 and a beta of 1.95. The firm’s fifty day simple moving average is $20.40 and its two-hundred day simple moving average is $15.35. AppLovin Co. has a 12 month low of $9.14 and a 12 month high of $40.56.
Insider Transactions at AppLovin
In other news, major shareholder Denali Holdings L.P. Kkr sold 15,952,381 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $21.00, for a total transaction of $335,000,001.00. Following the transaction, the insider now owns 44,782,619 shares of the company’s stock, valued at approximately $940,434,999. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Denali Holdings L.P. Kkr sold 15,952,381 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $21.00, for a total value of $335,000,001.00. Following the sale, the insider now owns 44,782,619 shares in the company, valued at approximately $940,434,999. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $21.91, for a total transaction of $1,095,500.00. Following the completion of the sale, the insider now owns 798,054 shares in the company, valued at approximately $17,485,363.14. The disclosure for this sale can be found here. Insiders have sold 31,089,762 shares of company stock valued at $683,196,433 in the last 90 days. 12.43% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
APP has been the topic of a number of research analyst reports. DA Davidson raised their target price on shares of AppLovin from $28.00 to $32.00 in a research report on Thursday, May 11th. Morgan Stanley lifted their price target on shares of AppLovin from $16.00 to $17.50 in a report on Thursday, May 11th. Truist Financial boosted their price objective on shares of AppLovin from $20.00 to $25.00 in a research note on Friday, May 12th. Bank of America raised shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $27.00 in a research note on Wednesday, May 17th. Finally, Benchmark boosted their price objective on shares of AppLovin from $9.00 to $14.00 in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.94.
AppLovin Company Profile
AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction.
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