Jump Financial LLC Acquires Shares of 45,357 AppLovin Co. (NYSE:APP)

Jump Financial LLC purchased a new stake in AppLovin Co. (NYSE:APPFree Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 45,357 shares of the company’s stock, valued at approximately $1,812,000.

A number of other large investors have also made changes to their positions in APP. State Street Corp grew its position in AppLovin by 1,194.0% in the second quarter. State Street Corp now owns 3,040,806 shares of the company’s stock worth $104,725,000 after acquiring an additional 2,805,820 shares during the period. AQR Capital Management LLC grew its position in AppLovin by 425.7% in the fourth quarter. AQR Capital Management LLC now owns 3,134,934 shares of the company’s stock worth $32,917,000 after acquiring an additional 2,538,618 shares during the period. Norges Bank purchased a new position in AppLovin in the fourth quarter worth approximately $22,402,000. JPMorgan Chase & Co. grew its position in AppLovin by 2,856.9% in the first quarter. JPMorgan Chase & Co. now owns 1,851,900 shares of the company’s stock worth $29,167,000 after acquiring an additional 1,789,271 shares during the period. Finally, Millennium Management LLC purchased a new position in AppLovin in the fourth quarter worth approximately $15,469,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Up 12.0 %

AppLovin stock opened at $45.86 on Friday. AppLovin Co. has a 1-year low of $11.69 and a 1-year high of $47.04. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market cap of $15.40 billion, a PE ratio of 152.87, a P/E/G ratio of 1.31 and a beta of 1.69. The stock’s fifty day moving average is $40.44 and its two-hundred day moving average is $38.85.

AppLovin (NYSE:APPGet Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. AppLovin had a return on equity of 11.48% and a net margin of 3.46%. The company had revenue of $864.26 million for the quarter, compared to analysts’ expectations of $794.43 million. On average, sell-side analysts expect that AppLovin Co. will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 26,097 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $36.98, for a total value of $965,067.06. Following the sale, the insider now directly owns 588,346 shares in the company, valued at $21,757,035.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Dawson Alyssa Harvey sold 927 shares of AppLovin stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $39.16, for a total transaction of $36,301.32. Following the sale, the director now owns 13,307 shares in the company, valued at $521,102.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 26,097 shares of AppLovin stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $36.98, for a total value of $965,067.06. Following the sale, the insider now owns 588,346 shares in the company, valued at approximately $21,757,035.08. The disclosure for this sale can be found here. Insiders have sold a total of 1,337,662 shares of company stock worth $51,027,923 over the last ninety days. Corporate insiders own 12.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APP. Benchmark increased their price objective on AppLovin from $22.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, November 9th. Stifel Nicolaus raised their price target on AppLovin from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. UBS Group raised their price target on AppLovin from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, December 1st. HSBC began coverage on AppLovin in a research report on Monday, December 18th. They set a “buy” rating and a $53.20 price target for the company. Finally, The Goldman Sachs Group raised their price target on AppLovin from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.31.

Read Our Latest Research Report on AppLovin

AppLovin Profile

(Free Report)

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; MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction; and Wurl, a connected TV platform, which primarily distributes streaming video for content companies.

Further Reading

Institutional Ownership by Quarter for AppLovin (NYSE:APP)

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