Insight Holdings Group LLC Takes $1.62 Million Position in AppLovin Co. (NASDAQ:APP)

Insight Holdings Group LLC bought a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the company's stock, valued at approximately $1,619,000. AppLovin makes up about 0.1% of Insight Holdings Group LLC's investment portfolio, making the stock its 27th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC boosted its position in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock valued at $34,000 after acquiring an additional 29 shares during the period. HighPoint Advisor Group LLC raised its position in AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after purchasing an additional 31 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after purchasing an additional 33 shares during the period. Forum Financial Management LP lifted its stake in AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after buying an additional 33 shares during the period. Finally, Truvestments Capital LLC raised its holdings in shares of AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock valued at $1,696,000 after purchasing an additional 38 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was 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 trade represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 in the last ninety days. Insiders own 14.69% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Oppenheimer reissued an "outperform" rating and set a $560.00 price target on shares of AppLovin in a research report on Thursday, March 27th. Jefferies Financial Group lifted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Piper Sandler reduced their price objective on AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and an average price target of $414.05.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $276.83 on Monday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $94.11 billion, a price-to-earnings ratio of 60.98, a P/E/G ratio of 3.02 and a beta of 2.39. The firm has a fifty day moving average price of $291.16 and a 200 day moving average price of $302.14. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results 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%. As a group, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Co. (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.