BluePath Capital Management LLC Invests $385,000 in AppLovin Co. (NASDAQ:APP)

BluePath Capital Management LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, Holdings Channel.com reports. The fund bought 1,219 shares of the company’s stock, valued at approximately $385,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in AppLovin during the 3rd quarter worth $25,000. DT Investment Partners LLC purchased a new stake in AppLovin in the third quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin in the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter valued at $29,000. Finally, Quest Partners LLC purchased a new stake in shares of AppLovin during the second quarter valued at about $33,000. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock valued at $284,773,062 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $335.03 on Thursday. The company has a market capitalization of $112.43 billion, a P/E ratio of 101.52, a P/E/G ratio of 4.17 and a beta of 2.29. The business’s 50-day moving average is $324.66 and its two-hundred day moving average is $184.47. 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 fifty-two week low of $39.43 and a fifty-two week high of $417.64.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS. Research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Loop Capital lifted their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Piper Sandler initiated coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. upped their target price on AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $338.06.

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.