33,100 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Soros Capital Management LLC

Soros Capital Management LLC bought a new position in AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 33,100 shares of the company's stock, valued at approximately $10,719,000. AppLovin makes up about 1.7% of Soros Capital Management LLC's portfolio, making the stock its 20th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new stake in AppLovin in the 4th quarter worth $25,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in AppLovin during the fourth quarter valued at $28,000. Hemington Wealth Management raised 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 buying an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the topic of several recent research reports. Oppenheimer restated an "outperform" rating and set a $560.00 price target on shares of AppLovin in a report on Thursday, March 27th. The Goldman Sachs Group reduced their target price on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Morgan Stanley raised shares of AppLovin from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $470.00 to $350.00 in a research note on Thursday, April 10th. Benchmark raised their price target on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their price objective on AppLovin from $538.00 to $386.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $414.05.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. Insiders own 14.69% of the company's stock.

AppLovin Stock Up 3.4 %

Shares of NASDAQ APP traded up $9.14 during trading hours on Friday, hitting $277.02. 4,428,433 shares of the stock were exchanged, compared to its average volume of 5,872,712. The company has a market cap of $94.18 billion, a PE ratio of 61.00, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a fifty day moving average price of $295.54 and a 200-day moving average price of $299.04.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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, sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

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.