Dupont Capital Management Corp bought a new position in shares of AppLovin Co. (NYSE:APP – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,183 shares of the company’s stock, valued at approximately $129,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ETF Managers Group LLC increased its holdings in shares of AppLovin by 69.3% in the first quarter. ETF Managers Group LLC now owns 42,559 shares of the company’s stock valued at $670,000 after buying an additional 17,426 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of AppLovin by 1,457.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,173,539 shares of the company’s stock valued at $22,887,000 after buying an additional 2,033,939 shares in the last quarter. Ieq Capital LLC bought a new position in shares of AppLovin in the fourth quarter valued at $276,000. Rebalance LLC bought a new position in shares of AppLovin in the fourth quarter valued at $37,000. Finally, Philadelphia Trust Co. bought a new position in shares of AppLovin in the fourth quarter valued at $527,000. Institutional investors own 45.47% of the company’s stock.
Wall Street Analysts Forecast Growth
APP has been the topic of several research analyst reports. Bank of America upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $27.00 in a research report on Wednesday, May 17th. Benchmark lifted their price objective on shares of AppLovin from $9.00 to $14.00 in a research report on Thursday, May 11th. DA Davidson lifted their price objective on shares of AppLovin from $28.00 to $32.00 in a research report on Thursday, May 11th. Morgan Stanley lifted their price objective on shares of AppLovin from $16.00 to $17.50 in a research report on Thursday, May 11th. Finally, Stifel Nicolaus lifted their price objective on shares of AppLovin from $19.00 to $22.50 in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.94.
AppLovin Trading Up 0.2 %
AppLovin (NYSE:APP – Get Free Report) last issued its quarterly earnings data on Wednesday, May 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The business had revenue of $715.41 million during the quarter, compared to the consensus estimate of $693.58 million. AppLovin had a negative return on equity of 0.15% and a negative net margin of 2.82%. Analysts expect that AppLovin Co. will post 0.35 EPS for the current fiscal year.
Insider Buying and Selling
In other AppLovin news, Director Dawson Alyssa Harvey sold 5,188 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $22.71, for a total transaction of $117,819.48. Following the completion of the transaction, the director now owns 13,789 shares of the company’s stock, valued at approximately $313,148.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $22.54, for a total transaction of $676,200.00. Following the completion of the transaction, the chief technology officer now owns 8,672,832 shares of the company’s stock, valued at approximately $195,485,633.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 5,188 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $22.71, for a total transaction of $117,819.48. Following the transaction, the director now directly owns 13,789 shares of the company’s stock, valued at approximately $313,148.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,089,762 shares of company stock worth $683,196,433. Corporate insiders own 12.43% of the company’s stock.
AppLovin 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; MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction; and Wurl, a connected TV platform, which primarily distributes streaming video for content companies.
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