Walleye Capital LLC Purchases 23,053 Shares of AppLovin Co. (NYSE:APP)

Walleye Capital LLC increased its position in shares of AppLovin Co. (NYSE:APPGet Rating) by 271.9% during the 1st quarter, Holdings Channel reports. The fund owned 31,533 shares of the company’s stock after buying an additional 23,053 shares during the quarter. Walleye Capital LLC’s holdings in AppLovin were worth $1,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of APP. JPMorgan Chase & Co. boosted its stake in AppLovin by 99.0% during the 1st quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock worth $54,000 after acquiring an additional 488 shares during the last quarter. Quantbot Technologies LP bought a new position in AppLovin during the 1st quarter worth approximately $74,000. Covestor Ltd bought a new position in AppLovin in the first quarter valued at approximately $116,000. Advisor Group Holdings Inc. lifted its stake in AppLovin by 55.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,925 shares of the company’s stock valued at $182,000 after buying an additional 684 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in AppLovin in the fourth quarter valued at approximately $270,000. Institutional investors own 37.23% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $23.15 on Friday. The company has a market cap of $8.70 billion, a price-to-earnings ratio of -79.82, a PEG ratio of 5.30 and a beta of 2.34. AppLovin Co. has a 1-year low of $22.64 and a 1-year high of $116.09. The company’s fifty day simple moving average is $30.96 and its 200 day simple moving average is $38.53. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 1.67.

AppLovin (NYSE:APPGet Rating) last released its quarterly earnings data on Wednesday, August 10th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.21). AppLovin had a negative net margin of 3.61% and a positive return on equity of 3.82%. The company had revenue of $776.23 million during the quarter, compared to analyst estimates of $827.75 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. AppLovin’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts forecast that AppLovin Co. will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 106,762 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $34.05, for a total value of $3,635,246.10. Following the transaction, the director now directly owns 10,781,081 shares in the company, valued at $367,095,808.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Vasily Shikin sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $26.59, for a total value of $598,275.00. Following the transaction, the chief technology officer now directly owns 2,644,535 shares in the company, valued at $70,318,185.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 106,762 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $34.05, for a total transaction of $3,635,246.10. Following the completion of the transaction, the director now owns 10,781,081 shares in the company, valued at $367,095,808.05. The disclosure for this sale can be found here. Corporate insiders own 12.78% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. DA Davidson cut their price target on shares of AppLovin from $80.00 to $70.00 in a research note on Friday, August 12th. Credit Suisse Group cut their price target on shares of AppLovin from $100.00 to $80.00 in a research note on Monday, August 8th. Morgan Stanley cut their price target on shares of AppLovin from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, June 13th. Truist Financial cut their price target on shares of AppLovin from $77.00 to $65.00 in a research note on Thursday, August 11th. Finally, Citigroup cut their price objective on shares of AppLovin from $62.00 to $60.00 in a research report on Tuesday, August 23rd. Fifteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, AppLovin currently has a consensus rating of “Buy” and an average price target of $67.60.

AppLovin Company Profile

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AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction.

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Institutional Ownership by Quarter for AppLovin (NYSE:APP)

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