Anomaly Capital Management LP Acquires Shares of 199,164 AppLovin Co. (NASDAQ:APP)

Anomaly Capital Management LP acquired a new stake in AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 199,164 shares of the company's stock, valued at approximately $64,495,000. AppLovin comprises approximately 1.9% of Anomaly Capital Management LP's portfolio, making the stock its 21st biggest position. Anomaly Capital Management LP owned approximately 0.06% of AppLovin as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of APP. GHP Investment Advisors Inc. bought a new position in shares of AppLovin during the 4th quarter worth $25,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC bought a new stake in shares of AppLovin in the 4th quarter valued at about $28,000. Hemington Wealth Management lifted its position in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Activity

In other news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company's stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $8.95 during midday trading on Friday, reaching $276.83. 5,766,189 shares of the stock were exchanged, compared to its average volume of 5,877,451. 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 50-day simple moving average of $295.54 and a two-hundred day simple moving average of $299.04. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The firm has a market cap of $94.11 billion, a price-to-earnings ratio of 60.98, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on APP shares. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Monday. UBS Group reduced their target price on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their price objective on shares of AppLovin from $475.00 to $270.00 and set a "neutral" rating for the company in a research note on Tuesday. Benchmark raised their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group upped their price target on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $414.05.

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.