Duality Advisers LP Grows Stake in AppLovin Co. (NASDAQ:APP)

Duality Advisers LP raised its stake in AppLovin Co. (NASDAQ:APP) by 18.2% during the fourth quarter, HoldingsChannel reports. The fund owned 84,536 shares of the company’s stock after buying an additional 12,995 shares during the period. Duality Advisers LP’s holdings in AppLovin were worth $3,369,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of APP. Sapient Capital LLC purchased a new stake in shares of AppLovin in the fourth quarter worth $165,057,000. Vanguard Group Inc. grew its stake in shares of AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after acquiring an additional 1,411,453 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of AppLovin by 4,805.9% during the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock valued at $56,050,000 after buying an additional 1,374,066 shares during the last quarter. FMR LLC boosted its position in shares of AppLovin by 224.6% during the third quarter. FMR LLC now owns 755,798 shares of the company’s stock valued at $30,202,000 after buying an additional 522,949 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of AppLovin by 88.6% during the third quarter. Raymond James & Associates now owns 927,907 shares of the company’s stock valued at $37,079,000 after buying an additional 435,792 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Up 1.6 %

NASDAQ APP opened at $67.85 on Tuesday. The stock’s 50-day moving average price is $65.67 and its 200-day moving average price is $49.24. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin Co. has a 52 week low of $15.41 and a 52 week high of $79.55. The company has a market capitalization of $23.20 billion, a P/E ratio of 67.85, a price-to-earnings-growth ratio of 1.35 and a beta of 1.90.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) EPS. On average, equities research analysts predict that AppLovin Co. will post 2.47 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the topic of several recent analyst reports. BTIG Research increased their price objective on AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group increased their price objective on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. UBS Group increased their target price on AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Morgan Stanley increased their target price on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Finally, TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.31.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the sale, the insider now owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the transaction, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now directly owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is owned by company 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.