BluePath Capital Management LLC Takes $385,000 Position in AppLovin Co. (NASDAQ:APP)

BluePath Capital Management LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,219 shares of the company's stock, valued at approximately $385,000.

Several other institutional investors have also recently made changes to their positions in the stock. National Bank of Canada FI grew its stake in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company's stock valued at $131,000 after acquiring an additional 39 shares in the last quarter. Versant Capital Management Inc boosted its holdings in AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company's stock valued at $104,000 after purchasing an additional 53 shares during the period. Great Valley Advisor Group Inc. grew its position in shares of AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company's stock valued at $370,000 after purchasing an additional 60 shares in the last quarter. HM Payson & Co. increased its holdings in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company's stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, Aptus Capital Advisors LLC raised its position in shares of AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company's stock worth $4,371,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

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 stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 888,867 shares of company stock worth $284,773,062. Company insiders own 14.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Citigroup boosted their target price on AppLovin from $335.00 to $460.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. The Goldman Sachs Group lowered AppLovin from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Daiwa Capital Markets raised shares of AppLovin from a "neutral" rating to an "outperform" rating and raised their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Benchmark initiated coverage on shares of AppLovin in a research note on Friday, January 10th. They issued a "buy" rating and a $375.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $200.00 to $325.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $338.06.

AppLovin Trading Down 0.9 %

AppLovin stock traded down $3.02 during trading hours on Thursday, reaching $332.01. The company had a trading volume of 2,495,149 shares, compared to its average volume of 4,135,245. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 12-month low of $39.43 and a 12-month high of $417.64. The company has a 50-day moving average price of $327.99 and a 200 day moving average price of $185.52. The firm has a market cap of $111.42 billion, a price-to-earnings ratio of 100.61, a P/E/G ratio of 2.68 and a beta of 2.29.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The company 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 revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. Equities analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

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.