Machina Capital S.A.S. Purchases Shares of 700 AppLovin Co. (NASDAQ:APP)

Machina Capital S.A.S. purchased a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, HoldingsChannel reports. The fund purchased 700 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in shares of AppLovin by 150.6% during the third quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock worth $133,000 after acquiring an additional 613 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the third quarter worth about $25,000. CWA Asset Management Group LLC bought a new stake in shares of AppLovin during the third quarter worth about $1,730,000. Verdence Capital Advisors LLC increased its position in shares of AppLovin by 128.9% during the third quarter. Verdence Capital Advisors LLC now owns 11,022 shares of the company’s stock worth $1,439,000 after acquiring an additional 6,206 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of AppLovin by 131.8% during the third quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock worth $1,258,000 after acquiring an additional 5,480 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $270.48 on Monday. The company’s 50 day moving average is $363.84 and its 200-day moving average is $262.97. AppLovin Co. has a 12-month low of $59.30 and a 12-month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $90.77 billion, a P/E ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

APP has been the topic of several analyst reports. Bank of America boosted their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Arete Research upgraded shares of AppLovin to a “strong sell” rating in a report on Wednesday, March 5th. Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Loop Capital boosted their price target on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $452.29.

Insider Activity

In related news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 406,047 shares of company stock valued at $140,390,817 over the last quarter. Company insiders own 14.69% of the company’s stock.

About AppLovin

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.