FNY Investment Advisers LLC Invests $158,000 in AppLovin Co. (NASDAQ:APP)

FNY Investment Advisers LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 490 shares of the company’s stock, valued at approximately $158,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APP. WCM Investment Management LLC increased its holdings in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. FMR LLC increased its stake in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Lone Pine Capital LLC increased its stake in AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after acquiring an additional 382,767 shares during the period. State Street Corp raised its holdings in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after acquiring an additional 449,241 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP stock opened at $321.09 on Wednesday. AppLovin Co. has a 52 week low of $39.43 and a 52 week high of $417.64. The stock has a market capitalization of $107.76 billion, a PE ratio of 97.30, a PEG ratio of 4.17 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock’s fifty day moving average is $324.66 and its 200-day moving average is $184.47.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 38.6% on a year-over-year basis. Equities research analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity

In related news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 over the last three months. 14.69% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on APP. Piper Sandler initiated coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective on the stock. BTIG Research increased their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark initiated coverage on shares of AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 price objective for the company. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price target for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $338.06.

AppLovin Company Profile

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.