Alpha DNA Investment Management LLC Makes New $785,000 Investment in AppLovin Co. (NASDAQ:APP)

Alpha DNA Investment Management LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 6,012 shares of the company’s stock, valued at approximately $785,000.

A number of other large investors have also made changes to their positions in the stock. Second Half Financial Partners LLC purchased a new position in shares of AppLovin in the third quarter valued at $224,000. Eagle Asset Management Inc. increased its stake in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. WCM Investment Management LLC lifted its stake in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in AppLovin by 10.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock valued at $3,440,000 after buying an additional 2,385 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE purchased a new position in AppLovin during the third quarter worth $7,086,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

APP stock opened at $333.31 on Friday. The company has a market cap of $111.86 billion, a PE ratio of 101.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.86. 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 stock has a 50-day moving average price of $181.30 and a two-hundred day moving average price of $117.41. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $342.51.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. As a group, research analysts predict that AppLovin Co. will post 4.05 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on APP shares. Wedbush reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. Benchmark reiterated a “sell” rating and set a $66.00 price target on shares of AppLovin in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Loop Capital lifted their target price on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $222.96.

Insider Activity at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares in the company, valued at $70,970,487.12. The trade was a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 854,065 shares of company stock worth $233,072,408. 14.69% of the stock is currently owned by corporate insiders.

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.