Science & Technology Partners L.P. Makes New $30.61 Million Investment in AppLovin Co. (NASDAQ:APP)

Science & Technology Partners L.P. purchased a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 94,521 shares of the company's stock, valued at approximately $30,609,000. AppLovin comprises approximately 9.3% of Science & Technology Partners L.P.'s portfolio, making the stock its 2nd biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its position in AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares during the period. Invst LLC lifted its position in AppLovin by 23.2% in the third quarter. Invst LLC now owns 6,812 shares of the company's stock valued at $889,000 after buying an additional 1,284 shares during the last quarter. Virtu Financial LLC purchased a new position in AppLovin during the third quarter worth about $3,211,000. SOA Wealth Advisors LLC. acquired a new stake in shares of AppLovin during the third quarter valued at about $59,000. Finally, Pine Valley Investments Ltd Liability Co purchased a new stake in shares of AppLovin in the 3rd quarter valued at approximately $228,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 6.1 %

Shares of NASDAQ:APP opened at $252.28 on Thursday. The firm has a 50 day simple moving average of $300.39 and a 200-day simple moving average of $298.16. AppLovin Co. has a twelve month low of $60.67 and a twelve month 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 company has a market capitalization of $85.76 billion, a PE ratio of 55.57, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results 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 net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the 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 sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. Company insiders own 14.69% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on APP. Benchmark lifted their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Loop Capital reiterated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. Oppenheimer restated an "outperform" rating and set a $560.00 target price on shares of AppLovin in a report on Thursday, March 27th. FBN Securities assumed coverage on shares of AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $414.05.

AppLovin Company 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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