Lecap Asset Management Ltd. Buys Shares of 4,013 AppLovin Co. (NASDAQ:APP)

Lecap Asset Management Ltd. bought a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,013 shares of the company’s stock, valued at approximately $1,300,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC increased its stake in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. Jennison Associates LLC bought a new position in AppLovin in the 4th quarter worth approximately $414,462,000. WCM Investment Management LLC increased its position in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the period. Janus Henderson Group PLC raised its stake in AppLovin by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after acquiring an additional 560,560 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after acquiring an additional 500,407 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Down 1.3 %

Shares of APP opened at $375.72 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1-year low of $45.12 and a 1-year high of $417.64. The stock has a market capitalization of $126.09 billion, a P/E ratio of 113.85, a P/E/G ratio of 3.00 and a beta of 2.30. The business’s 50-day moving average price is $346.12 and its 200 day moving average price is $217.34.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. Analysts expect that AppLovin Co. will post 4.09 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin 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 transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APP. Stifel Nicolaus raised their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. UBS Group upped their price target on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Loop Capital raised their price objective on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $366.29.

AppLovin 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.