D1 Capital Partners L.P. Purchases Shares of 481,000 AppLovin Co. (NASDAQ:APP)

D1 Capital Partners L.P. acquired a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 481,000 shares of the company's stock, valued at approximately $155,762,000. AppLovin accounts for 2.6% of D1 Capital Partners L.P.'s investment portfolio, making the stock its 12th largest position. D1 Capital Partners L.P. owned about 0.14% of AppLovin at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of APP. Oxinas Partners Wealth Management LLC bought a new position in shares of AppLovin during the fourth quarter valued at $1,081,000. Virtu Financial LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth about $3,211,000. Franchise Capital Ltd acquired a new position in AppLovin in the fourth quarter valued at about $2,811,000. Barclays PLC grew its stake in AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after buying an additional 153,248 shares during the last quarter. Finally, Tcfg Wealth Management LLC acquired a new stake in shares of AppLovin during the fourth quarter worth approximately $369,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

AppLovin stock opened at $252.28 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $85.76 billion, a P/E ratio of 55.57, a PEG ratio of 3.02 and a beta of 2.39. The business has a 50-day moving average of $300.39 and a 200-day moving average of $298.16. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group raised their price target on AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. Benchmark lifted their price target on AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. The Goldman Sachs Group decreased their price objective on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Citigroup boosted their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $414.05.

Insider Activity at AppLovin

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

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.

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