ExodusPoint Capital Management LP Takes $13.34 Million Position in AppLovin Co. (NASDAQ:APP)

ExodusPoint Capital Management LP purchased a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,179 shares of the company's stock, valued at approximately $13,335,000.

A number of other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. purchased a new stake in AppLovin during the 4th quarter valued at $25,000. Riverview Trust Co raised its holdings in shares of AppLovin by 1,640.0% during the fourth 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 last quarter. Tucker Asset Management LLC bought a new stake in shares of AppLovin in the fourth quarter worth $28,000. Hemington Wealth Management boosted its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company's stock worth $32,000 after purchasing an additional 62 shares during the period. Institutional investors own 41.85% of the company's stock.

AppLovin Trading Up 4.4 %

AppLovin stock traded up $9.74 during trading on Monday, hitting $229.11. The company had a trading volume of 8,059,617 shares, compared to its average volume of 5,611,232. The company's 50 day simple moving average is $342.89 and its 200-day simple moving average is $289.58. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. 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 stock has a market cap of $77.89 billion, a price-to-earnings ratio of 50.12, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

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AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 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%. As a group, analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on APP. UBS Group lifted their target price on AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the stock an "overweight" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised 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. Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Piper Sandler raised their target price on AppLovin from $400.00 to $575.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $435.47.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 17,500 shares of the 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 transaction, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the business'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 sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 in the last quarter. 14.69% of the stock is owned by insiders.

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.