MGO One Seven LLC Invests $308,000 in AppLovin Co. (NASDAQ:APP)

MGO One Seven LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 951 shares of the company's stock, valued at approximately $308,000.

A number of other hedge funds have also modified their holdings of the business. Pinebridge Investments L.P. increased its stake in shares of AppLovin by 68.4% during the 4th quarter. Pinebridge Investments L.P. now owns 197,295 shares of the company's stock worth $63,890,000 after purchasing an additional 80,105 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in AppLovin in the 4th quarter valued at $8,843,000. Alta Advisers Ltd lifted its stake in shares of AppLovin by 44.0% during the 4th quarter. Alta Advisers Ltd now owns 720 shares of the company's stock worth $233,000 after purchasing an additional 220 shares during the period. Anomaly Capital Management LP acquired a new stake in shares of AppLovin during the fourth quarter worth $64,495,000. Finally, Hsbc Holdings PLC grew its position in shares of AppLovin by 93.0% in the fourth quarter. Hsbc Holdings PLC now owns 154,590 shares of the company's stock valued at $50,082,000 after purchasing an additional 74,510 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on APP shares. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Bank of America increased their target price on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Loop Capital reiterated a "buy" rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. Wells Fargo & Company reduced their target price on AppLovin from $538.00 to $386.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Arete Research set a $200.00 target price on AppLovin in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and a consensus price target of $415.15.

AppLovin Price Performance

APP stock opened at $284.98 on Tuesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm has a market cap of $96.88 billion, a P/E ratio of 62.77, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The stock has a 50-day simple moving average of $286.98 and a 200-day simple moving average of $303.11.

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, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The stock was 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 owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. The trade was a 16.53 % 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 90 days. 14.69% of the stock is owned by corporate 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.

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